They already had 3 non-accurals revealed in their ER and now the oil crises. The question is how much the lower oil prices will affect MCC earnings? I had thought they only had a small percentage of the loans in oil but now I wonder with the stock price falling out of bed.
How in the world did they ever get off their offering at 13.01 without the buyers having a clue as to the forthcoming drop to 9.18. Now I wonder if all the bad news is out or if more is on the horizon.
Pacman says he bought 87k which is hard to believe , State of Affairs says they will come out of it and go back up but so far all that has happened is getting a little dividend and losing a lot of principal.
MCC stock has so much unknown at this point that it is impossible for an investor to judge whether or not to buy..
yes I did and lost nearly 100k when ACAS went to 60c but I stuck it out and got even. Now I am back in the same boat with MCC all over again
I had looked at the their list of companies they have related to oil and I didn't see that they had much invested in oil that would cause this much of a downturn. I see that they had some generator business but not seeing any investment much in shale or whatever it would take to know this stock down 40c today.
I still got a ton of shares but sold a little when it went up to 9.55 because I didn't like the way it traded. I am afraid to buy back because at this point in time it is a big guess on how this Q is going and what the dividend will be in March.
What do you think?
Even if they reduce the dividend to 30c the payout would be almost 13%.
And the X date being at 2/24 is in TWO months.
I wonder if there is some more negative news on the horizon. Remember MCC started going down long before the ER came out so somebody must have know something was not right.
Then there is the lawsuit and so far nothing. If they are right and it should be thrown out then how long does it take?
and closed at 10.29 day before ER then after ER it tumbled to 9.
what a great deal for the governement
any comments would be appreciated.