I have and they we're good. Had a pretty (or rather maybe ugly) miss on earnings. Check out the news items listed on Yahoo.
And piling on the jerks at The Street pile on and downgrade it.
Every quarter for a while now, the stock has dropped before earnings and it looked like maybe the worst was "baked in". But then the report comes, it's bad and the management bummbles around in another conference call, not giving any reason to hope for a turn around. So it drops yet again. Sadly this stock has been an example of "It's always darkest before... it goes completely black".
Wish there were some reason to believe this quarter might be different.
With the dividend this high, obviously the market is nervous about its ability to keep paying at this rate. The company says it's hedged most of its production for a while at higher prices, so it appears the dividend is safe for now. Longer term it depends oil and gas prices. If they keep dropping, so likely will LNCO and eventually the dividend, if they go back up, LNCO is a bargain at at its current price.
For months they repeated the same kind of crapola, but concluded it was a "buy", only to reverse course and say "sell", after it collapsed earlier this month. IMHO worthless nonsense, worse than Cramer's TV BS.
Hope you're right as I remain long. But what's its "intrinsic value"? Doesn't it depend on them getting their long term decline in sales and earnings turned around? With oil and gasoline prices dropping like a stone, which not good for the economic incentive to switch to cng, it doesn't seem the most likely time for them to finally get their act together. Obviously today somebody thought there was still hope.
The Street has been pounding the table regularly since (at least) May, touting TICC as "buy", including reiterating it 3 (trade) days ago. So now, after it's gone more or less straight down, they downgrade it on no news. Who listens to these idiots? Apparently some do, based on the plunge today.
"Beam me up Scotty there's no intelligent life here."
" I can appreciate that rates will go up sometime next year, maybe, but they're not going up quickly"
You can say that again, in fact they have been dropping... long rates are lowest in 18 mos. So like you, I'm struggling to understand TICC getting so beat up. Only thing I can figure is someone's questioning their business model (in general the BDC business model?) or knows something we don't, like a dividend cut.
Utter nonsense. Last year CA produced just over 1% of its electricity from solar, just over 4% from wind.
Interest rates keep falling, yet seems nobody's buying even with a 13+% dividend. Only thing I can figure is such a gaudy dividend is scaring people into thinking they won't be able to maintain it. Hope they're wrong.