You would think the insiders that have been buying huge positions the last two weeks would have a better idea of how NLY will perform going forward. Would you spend one million dollars of your own money if you thought the company was going to do poorly?
Sanders sold 427,181 shares; Reynolds sold 21,453 shares; Boney sold 343,255 shares; Black sold 26,602 shares; Frumken sold 27,500 shares and Nielsen sold 102,977 shares.
Management of this company should make a little noise with some kind of update or this stock will go to zero.
I wouldn't be surprised if they had another private placement in the near future. Raising cash at these levels makes sense.
I don't have an issue with you making a huge profit on your short position. I sold what I had left of my long position on the unfortunate news. I did record huge prior profits on the positions I took a profit on. I do have an issue with you taunting the poor unfortunate people that bought this at the wrong time and have lost a lot of money. Be a good sport and drop the "moronz" and "you are all broke" #$%$.
They did raise a significant amount of capital several years ago when the failed attempt to buy another bank occurred. Most of this has been lost with the write offs on bad loans. The answer to when they will post a profit on net income lies within the NPL's. When they are not writing off bad loans they will post a profit. The real question is when the NPL's will turn the corner.
Liza, why do you think selling the RGP position (or PVR if you own that) makes the past distributions taxable? I have sold MLP's in the past and I don't remember any issue with taxation on prior distributions. Of course there are the capitol gains that would be taxable when you close a position.
$27 million loss? Then there is the good bank bad bank stuff. Still another loss gobbling up equity sent down from the holding institution.
I show the 50 day ma at $37.81. The stock did bounce from the low $38 range today. You may be right in which case the smart money says to buy at the support levels.
Look at your original post second paragraph for the $1.89 number you posted. If you count the distributions from PVR prior to the close of the sale and assuming that they make two distributions of .55 (they may not make the last distribution in view of the pending sale to RGP) the number would be $1.70. If you only count the already announced distribution the number is $1.15.
You said $1.89 gain by buying PVR and holding until Nov 4th and .86 afterward. I posted $1.15 counting the distribution from PVR. Where are you getting $1.89?
As of the close on Friday PVR was at $26.15 and RGP was at $25.93. $25.93X1.02=26.45 plus the .31 cash distribution = $26.75. PVR then closed at a .60 discount to the offering not considering. Assuming that you bought the PVR prior to the X dividend date and counted the .55 dividend as an additional gain and assuming that RGP does not fall in price further then PVR is trading at a $1.15 discount to the offer. What is unknown is if RGP will continue to fall in price. The really safe move is to buy PVR the day prior to the x dividend date and sell afterward and pocket the dividend. PVR's price will be protected by the RGP offer.
I don't like spending any more on medicine and health insurance than you do. Blue Cross and all other carriers now have to take preexisting condition applications. The Obamacare plans are too high. You should be able to shop this on your own and do better.