Looking at the SEC filings for the Quarter ended Mar 2013 after deducting the 385 Million and 265 Million respectively it comes to $9.00. What am I missing?
Now that it is Tower International, They will sell the Tower US Company and the share price will go back to $12.00.
Wait for Monday. News Coming.
First time I am seeing a realistic valuation. Insurance business is run against tangible assets. The amount of $600M is close to realistic. This is why they appointed JPM to find a Buyer. Also the buyer gets all these clients for free. With zero acquisition costs. 53Million shares gives a valuation of $10 per share. Les see who bites/
Wait and see. They traded the 1 Million and now will absorb the shorts sells and then take it back to 12.
Dont you think this will be only a paper loss. If they are going to lose actual cash then they would have stopped the Dividend that they paid just two days back. They have real customers and they are making profits. This will be a passing phase and in a few days good news will be coming... Good Luck
You need to understand one thing. They already said what to expect on the Oct 7th earnings date. That is when the stock slumped to $12.80. Then after 10 days the CEO was forced to sell his shares due to margin call. Thats when the shares went down from 12.80 to 9.10. Then comes the newswire regarding this and shorts are selling blindly. They will be fried soon.
At todays price they will be able to buy about 5 Million shares thats 10% of the outstanding shares. 5 Million shares less from the float. So float will be only around 1 Million.
Shorts Cover fast before it is too late.
These guys could have bought the 1 Million shares and saved the share price....Anyway I think now would be a better time. About 3 million shares less in the outstanding.