$19, then $20, then $21...
What shorts? The short ratio is under 1.5%.
Go talk to RDN or MTG shareholders... Shorts have nothing to gain from here.
Nothing has changed for GNW. Long term care will start bringing more revenue this year and even more in 2015. MI is strong and should stay strong now that this horrible winter is almost behind us. Follow Real Estate numbers and see how things are faring well on that side.
This little correction will calm down just in time for the Australian IPO to happen on a market up tick. I don't know what GNW will do with the IPO revenue but I expect new upgrades later this summer.
MMs have played GNW perfectly so far but in the long run this is a +$30 stock. And I wouldn't be surprised if a buyer shows up with a good offer for GNW.
Have a great week-end.
Right on. GNW is down on market conditions BTW, nothing to do with a lawsuit. RDN and MTG are taking a much bigger hit so far.
Also, I'm sure there were disclaimers in GNW's wording of the first potential IPO attempt that will make GNW untouchable. Law firms try that kind of #$%$ all the time. Sometimes it works, quite often it doesn't
Speculators don't have a case if GNW decides to invest $1 million in lawyer fees t defend themselves.
The lack of volume is why I'm adding. This is IMO only a small retail selloff. Big money is not moving.
The latest rise in short interest will be fuel in 2-3 weeks. Shorting a stock like GNW is a tough bet even with a phony lawsuit.
That's why I always only invest in value stocks.
All GNW needs here is to get 10 millions more from the IPO, throw it to the dogs and let them fight between themselves... Serioulsy...
Big more is not scared.
Just be patient. The trend is up, most of the float is in the hands of big institutions, MMs are trying to make a buck on options and the lawsuit is already becoming old news.
The uptrend will resume.
The rise in short interest preceded the lawsuit and I believe someone is digging into that.
Nonetheless, I can see shorts who shorted in the $18 zone being able to make a few bucks if they cover this week.
But overall the trend is up and will stay up. Expect more analysts to upgrade GNW with higher targets. The market thought MI was slowing down but we will see that the weather was indeed the main reason for the slowdown. Long term care is going to bring more and more and costs cutting are starting to show.
Look at the multi-year chart and you will see $25 as the next target from a TA standpoint. At $25 we will probably have some consolidation and will get to $30 by the end of 2015.
The company has cut costs, added revenue and will keep on doing great. $2 EPS in 2015.
That lawsuit will be dragged on for years and I would think that GNW is insured against that kind of event. If not it's still a non issue and probably added about 1% on the down side today.
We will see $22-$24 soon no matter what.
The IPO is coming and these clowns are hoping to get a couple million out of the 800 million IPO. If we dig a bit (and we will) we might find out that individuals are playing this move insider information.
It's in my book a confirmation that the IPO is coming BTW.
Because they know it's coming and they will be liable. Watch.