Looked more like a bear attack to me. Took 15 minutes and $10 million to drive the price down 60 cents. They'll be back until there is good news.
From that same article:
PREPA's bonds, although still trading at distressed levels, have risen sharply since Donahue's appointment. The 5.25 percent bond due in 2040 is currently trading at an average price of 58.115 cents on the dollar compared to 49.844 cents the day before PREPA named Donahue as its new restructuring officer.
My guess ... 30 minutes after the market opens tomorrow. Unless we get some news then I'll stay long. Let 'em roll.
Might be painful. I don't see any reason that it doesn't return to 2013 low around $2.50. I'm not currently invested in SID but I'll put a little in if it gets to $4
Hi rpschom ... you don't sound optimistic about a long position in the near term. Why not short it then?
Dell lies about multiple IDs. He does it on this MB and BAC, GS, JDSU and other MBs. He believes that someone would pay a poster to bash MBI on a Yahoo MB and that this bashing manipulates the price of MBIA. Yes Dell "YOU" need to notify the SEC because there is no one else on this MB dell -lusional enough to participate in anything with you.
It's an insurance company .... has to do with the performance of their existing assets. Think of it as a company mining gold; they own a mine and their rev changes by how well they do their work. Would be great if MBIA could get more mines in the future for added new business.
Dell you are such a liar. On Aug. 13th The Street upgraded MBIA from SELL TO HOLD. They did not rate it a buy as your headline claims! You selectively left that our of your post to intentionally mislead this MB. And on Aug 13th the date of their HOLD upgrade the MBI stock was around $9.10. The part you didn't post follows:
MBIA Inc Stock Upgraded (MBI)
By Kevin Baker Follow 08/13/14 - 11:12 AM EDT
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
NEW YORK ( TheStreet) -- MBIA (NYSE: MBI) has been upgraded by TheStreet Ratings from sell to hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, weak operating cash flow and a generally disappointing performance in the stock itself.
BEWARE AGAIN AND AGAIN: If not for the great financial crisis we could have easily seen $100 by now. Who but Dell would take REALITY out of a stock and project a value.
BEWARE AGAIN: This poster made the identical $13 forecast for the last earnings report .... the price per share went to a new 52 week low around $9.10 instead. It has recovered some and today is at $10.32.Just pumping no substance.
BEWARE: This poster has a proven history of not posting truths about when he buys and sells. Don't believe a word he says.