He is increasing his share count when one would think he should be decreasing. My guess is there are a few boys that are planning to make this deal happen. They are probably assisting the shorts right now as they want the share price low to accumulate on the cheap. What a steal if they get this for $25. Remember the HLSS premium was not great.
Any guess on the price??
OCN is going to sell everything which puts ASPS is a difficult position. Buyers will know ASPS is desperate to continue to service contracts and will use that to their advantage. Sure they will spew the BS that they intend to utilize them, but it will be for a cost consession........Their margins will drop dramitcally.
The numbers are a lie and it should be obvious. The shorts are running this show through OCN. OCN will be sold and not at a huge premium. ASPS will lose.
I would have thought this would be up more than 6% given the news??? Only traded 200k shares after hours. Shorts don't appear to be running for the door.
Goldman is impossible to understand. I don't trust them at all whether they are long or short. They will use their shares to drive this up and down a million times.........that is how they will make their money. They are not long, they are what ever they need to be.
Kingston are a very small hedge fund with less than a billion. They are nobody.
A company like Blue Mountain doesn't announce a short unless they know what they are doing. I am not saying they will win this war, but you can bet they are going door to door using every favor in the book to bring down OCN. OCN has lied and they are in default.........Was it forced default, yes, but it is default. They will lose more contracts, there is no $3 normalized earnings......nothing is normal about a company losing 85% of its market cap. Stop drinking the Koolaid and think, what do the shorts know that OCN hasn't told us?
If I was a competing hedge fund, I would use OCN to crush them. Either way, those acting like Blue Mountain are a bunch of dopes, think again, Blue Mountain's Feldstein & Stanly have many powerful friends. They both worked at JPM for many years and Blue Moutain was the one who bailed JPM out of the London Whale trade. The hedge fund business runs off of favors and their mission most of the time is to destroy companies any way they can.........Default is the #1 way to do it because the company has no control of it. The hedge funds control the rating agencies and all of the important players to cause default and higher borrowing costs.
Erbey screwed over too many people. No one wants to see his babies live. Management is losing and will continue to lose. Just sell this piece of #$%$ for $15 and be done with it.