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I am not playing Syncora, too illiquid. I owned two financials prior to the financial crises. One is Syncora and the other was a New York based company, that the management sold cheap in 2011. Security capital insurance, now Syncora, that since they went on the pinks, and went ahead with the MTA, they basically relinquished control of Syncora, to government bureaucrats, and the MM's. There are those who make things happen, those who watch things happen and those who say what happened, you all know my opinion of Syncora's Board. All that being said, I will hold on to my Syncora shares and watch what happens. IMO.
Syncora will be much cheaper sooner or later. Wait until the market correction. Even under a dollar Syncora a waste of money. May be able to play it for a quick trade, but you would have to be watching carefully. Obviously, Syncora is a pink sheet company completely controlled by the stock market mafia (brokers swapping spit, etc.) who have no intention of having retail investors making any more or lot of money. Again, there is absolutely no buying interest in Syncora, and Syncora's board has/will do nothing for the foreseeable future to enhance the commons. What's also true is what I just posted can be said for hundreds of stocks/companies. Too many stocks are shams. IMO.
$1.50 coming soon. Stock market mafia going to crush Syncora. Susan and board asleep at the wheel. IMO.
I still feel Syncora's management inept, and that the boards primary focus, goal, prioritiy is keeping their fat paycheck coming. In their settlement with BOA, and JPM, they should/could have held out and nailed them for fraud, also. When the market corrects still believe we will see $1.50 or lower. IMO.
Absolutely no buying interest in syncora. $1.50 or lower, sooner or later. Dead money, potentially for good or a very long time. One pink sheet that I find interesting however, is Ekso. Also, loaded up on PBR, lots of upside. Happy holidays. IMO.
Don't like pumpers. Syncora will see $1.50ish or lower, and sit there for a very long time. Again, you guys can't see the forest for the trees. This is an illiquid penny stock that the stock mafia has no interest in buying at these prices. IMO.
The potential for more bleeding. Once a pink always a pink? The 12, 24 month timeline. The overall uncertainty going forward. IMO
You guys can't see the forest for the trees. Even if they get another settlement, Syncora's PPS will continue to fall. Conference call was a huge disappointment. IMO.
Like I said. No skin off Susan and board backs, staying on pinkies. They continue collecting fat checks. Nothing changes, nothing changes.IMO.
Don't believe the hype. I expect Susan and CFO to be vague and place more emphasis on problems and risks with company. Potentially, none of boards questions will be addressed, in a direct and forthright manner. However, many companies conference calls are difficult to grasp, understand. IMO.
Correction, by and large once an illiquid pinky always an illiquid pinky. IMO.
By and large, once a pinky always a pinky. IMO.
You guys still hoping Syncora not a sham? Too many companies are eloborate scams. Corbally, board of directors, and every employee have a great gig. They make a government job look hard. What do they do day to day? This looks like it will remain on the pinks, indefinitely. Potential to go much lower, because no important catalyst for a long time, if ever. IMO.
1,502,475 shorted today out of a total of 1,610,225 shares, as per FINRA. And at 16:03:30, 705,000 shares at 2.1159. GLTA.
76,902 shares shorted today, as per FINRA.
45811 shorted on Friday, 9/5/14, as per FINRA.
23,179 shares shorted on 9/4/14, as per FINRA. IMO.
Predict we will be down 5% on low volume tomorrow. Still believe it's questionable if this stock is an investment. That no one knows if this is a perpetual pink sheet company, hence illiquid, I wonder if Syncora's worth the risk? IMO.
Rhodes biased against bond insurers. Orchestrated by Synder, Orr and the powers that be from before bankruptcy. If judge Rhodes is able to cram down this mess, repercussions far reaching. Appeal this out of Michigan. IMO.
Lincoln, I am not a professional. And I see that my posting history is confusing. What I am trying to make sense of is Syncora going to die by a thousand cuts, like too many companies/stocks post financial crises. Too many stocks nowadays, not only pinks are languishing and close to dead because of lack of volume. Today 600 shares were shorted, probably means nothing. Let's assume Syncora has intrinsic value, it may never be realized. We will probably never know the details of the MTA, and that's an issue. Think about it, if someone's bought a boat load at an average price of say, a buck, why not lighten the load or sell now, remember pigs get slaughtered. Pinkies are speculative at best, but in this brave new market, never before has the saying buyer beware been more appropriate. IMO
My guess is between 100,000 and 500,000 shares to sell by multiple sellers willing to dump. And with the low volume and few buyers even at this level, will drift lower. IMO.
Management, Board highly suspect. There intentions, plan for commons unknown. Syncora can wind up like symbol AORE. No volume, no interest, pink sheet stock. IMO.
Thanks Lonestar. Good article. Would be ironic if the continuous litigation and lawyer fees, is what tips Syncora into insolvency. IMO.
Denny, I would bet there are way more sellers lined up. Not just one. IMO.
Over 10,000 shares on the ask at 1.74, for awhile. No buyers, going lower. Probably has to go much lower, before we stabilize. IMO.
Denny, Syncora's peers are not a perpetual pink sheet stock. And because Syncora may never not be a pink sheet stock that is under the NYID thumb, I can understand why after all this time people are deciding to lighten load/sell. IMO.
Potentially perpetual issues with Syncora. In runoff. NYID. No new business. Pink sheet, illiquid. High G/A expenses. Board of Directors that's questionable. IMO.
Just to reinforce a point. There are approximately 30,000 on the ask at 2 buck or less in different size blocks and there are 100 share blocks at 1.79 and lower. Many more looking to sell. Very little/no buying interest. IMO.
Syncora's perpetual illiquidity a problem. A few shares bought and sold daily. No real interest in the stock/company. All the research means little. Reality is, unless some entity or whoever with deep pockets sees value in Syncora commons, it may only spike on news. I would bet that many retail investors poised to sell on any spike, especially after how quickly we went from 3+ and back down. Still don't like or trust Board of Syncora. Something fishy with that MTA. IMO.
The Detroit bankruptcy fix was in before they filed for bankruptcy. Colluding, absolutely. Illegal, however would be hard to prove. I have to say Syncora's lawyers earning their keep. However, Jones Day has Snyder, Orr, and possibly Rhodes, Rosen in their corner. Let's hope politics isn't the deciding factor. IMO.
Maybe a counterparty or a couple of them did sell shares when it spiked in March. Or maybe they were/are prevented by the MTA. Not necessarily a positive that they have so many shares. They are not a mutual fund. IMO.
Doubtful that commons would be wiped out. But, that Board members, management own little or no shares, and that retail investors own millions of the outstanding shares, the potential is there that Syncora commons could go lower and stay lower for a long time. On any pop some retail investor will sell or lighten their load. Too many other risks, circumstances that have the potential of slamming commons. IMO.
Comparing AGO or MBI to Syncora, is like comparing apples and oranges. Syncora is in runoff. Boards
intentions, potential to do anything for common shareholder, speculative. Continually pumping the company/stock, has done little/nil to bring investors/liquidity to Syncora. Hope I am wrong, still suspect that the potential is there for Susan and board to shaft common shareholders. They have little, or no skin in Syncora. IMO.
Syncora is to pay over $623,000 cash? And Suncora gets what in return? A promise that Syncora will not be sued in the future? I still believe that the Board of Syncora will shaft common shareholders, in some way, especially, with the two pending new board members. IMO.
Jboy, good post. That's not over simplifying it. If Rhodes, Orr and Snyder pull this off, they essentially have gotten away with insurance fraud. And the reverberations will be felt beyond Michigan for years. This bankruptcy has been all politics even before the bankruptcy. Rule of law being turned on it's head. Shorted a basket of stocks, was nervous up until yesterday. IMO.
Low, saying this is going to $15 a share is pumping the stock. And too many on this board give management credit. For what? Hiring a tribe of high priced lawyers, to keep their arses out of the fire, and their fat pay checks coming. Explain to me what exactly Susan and the board do day to day. Wait for a call from the lawyers or NYDI, who tell Susan and board what to do. Good gig if you can get it. No I am not short, but greed and lack of integrity by CEO's on Wall Street, and by many, created the financial crises that continues to have far reaching ramifications that are far from over. IMO.
DennyCrane, your research and analysis speaks for itself. However, 5 plus years after the financial crises this stock is still a highly speculative play. That many retail investors on this board supposedly own hundreds of thousands of shares and hence, continually pump the stock, does not make Syncora a good investment. Contrary, on any gain like happened, when it went to 3 plus, it is more likely, retail investor(s) and potentially the counter parties will sell or lighten their load. Also, management, and the board of directors, (good gig if you can get it) have given no clear indication what the heck their plan, if any is for Syncora . As an investment Syncora is very high risk. Again, good news, will have a temporary, negligible affect on Syncora as an investment. Bad news, back under a buck. IMO.
Is Syncora in run-off? If so, changes things. More likely to never get off the pinks, or to appreciate over time as an investment. And it would explain
management's pre-occupation with survival, and keeping their jobs as long as possible. Less pampers on this board, with more comment/analysis of Syncora's risk as an investment would be helpful. IMO.
Selling to continue. My guess is that someone(s) with a lot of shares selling and it will take them a long time, to sell all their shares considering the volume. Good news won't make much difference. Everyone's circumstances change/different. IMO.
I don't know what's worse Detroit's orchestrated cram down or the biased reporting of the cram down. They should win on appeal. IMO.