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Nope, 392.5 million is approximately $4.26 per share. Common shareholders would be very lucky when all is said and done to get that much. The American roads debacle was a red flag warning that these bozos are inept. IMO.
Conference call was a joke. They took one question. They are a bunch of cowards. Wonder how many shares were shorted today? IMO.
The fix was/is in. No way will another buyer appear. Everything about the sale highly suspect. But we all knew pink sheet penny stocks come with a risk premium. Arrogant board laughing all the way to the bank, and there’s nothing shareholders can do about it, but sell and move on. Too bad for those that were clueless and bought in the last few months. Buyer beware. Only in corporate America. IMO.
I wouldn’t hire these clowns to work at Walmart. Something smells awful fishy. Total Incompetence. Or just a way to keep their fat paychecks for as long as possible. Also, before sale they made sure shareholders can’t do a darn thing about it. $4 may be a floor temporarily, but could go much lower with a significant correction in the markets. IMO.
Maybe I’m right this time. Only time will tell. IMO.
At this point Board milking Syncora for as long as possible. It could backfire on stakeholders. Maybe sooner rather than later, an institution will start dumping again. Remember Legg Mason. IMO.
It appears Board milking Syncora. Board could be searching for a way to merge or distribute some cash so that they keep their jobs. Remember Board has cashed in their bonus, so it wouldn’t be surprising if their priorities, goals have changed. And with the never ending Puerto Rico s**fest and the potential for a nasty market correction, stakeholders might take a hit sooner or later. It all depends on one’s appetite for risk in the current market. IMO.
Very dangerous times for sure. It’s absurd the ignorance of so many Americans. I travel a lot and too many people I know/meet are utterly dismayed, baffled, and very concerned at what’s going on in America today. Ignorance is bliss, but it also kills. Have a great weekend everyone, poker night in the hood. IMO.
70 percent of BV is about $5.25, correct? IMO.
Yep, holding up, however, for how long with almost zero interest, volume. And Board got paid, incentive is now gone. IMO.
Illiquid pink sheet stocks difficult to buy and hold. Especially in this market, which is getting tougher and tougher to hold on to anything. IMO.
Crazy volume, not good. IMO.
Who believes Syncora management milking Syncora? Going forward market conditions, along with other circumstances, I believe will lessen the value of Syncora going forward. Syncora’s board of directors overriding priority, goal is to keep fat paychecks coming for as long as possible. Changed my mind about adding. Will wait for potential sell off, by some of the larger positions. IMO.
As always, I’m hoping it goes lower so I can load up. Did buy before it crossed $5, however. IMO.
I was wrong about everything. I wonder how much the sale price will eventually be? IMO.
I was, I feel bad, I’m such a negative person, that spews tons of Bulls**t. IMO.
Brand, s**t, has it been 8 years? Time sure fly’s. I’ll try and stop posting. Good luck. IMO
Brand, Puerto Rico will be a sh** fest for years. The economy/markets are extremely frothy. And will the Board want to sell the whole company? I doubt that very much. And if they merge or jettison part of the company that will likely backfire and PPS will go down. A possibility? IMO
Ment to say another bulls**t conference call this week. IMO
Yep, Syncora trending lower. And wait until the bulls**t conference call. Syncora will tank big time after that. Too much uncertainty. Board’s overriding goal, priority is to milk Syncora for as long as possible. IMO.
Syncora selling off, because management gets paid. It’s been above $4.50 for 10 consecutive trading days. Watch out below. IMO.
Close below $4.50 would be great. It would reset the needed 10 consecutive days above $4.50. IMO.
Artificially propping it up? Let’s see what happens on day 11. Don’t look good. IMO.
Day 10 almost here. Anyone have a guess where Syncora PPS will be after Board gets their fat checks? And also after March 28th. I still believe at this point Board is a problem and inept. Almost guaranteed to be under $4.00. IMO
Illiquid pink sheet penny stocks are always a problem. I noticed that 30000 shares of Syncora traded hands at $4.60 before market opened today. MM can control an Illiquid pink sheet stock in many ways. Manipulation way too easy. IMO
Rock, can you blame me for wanting cheaper shares? Watching and waiting. IMO.
Good post Andecker. Another concern is at least one entity has been and will continue shorting Syncora above $4.50, in anticipation of a sell off after day 10, or after March 28th. I expect many disappointing retail investors after March 28th. Board will drag their collective feet, indefinitely. IMO.
Wow, keep pumping and drinking the cool aid. IMO
Illiquid pink sheet Syncora retail investors run for cover after day 10 at $4.50 and after March 28th. Inept management will leave common shareholders out to dry. Their incentive after the 28th, will be collecting their fat paychecks for little or no work, indefinitely. Not like management been doing much of anything for years already. What a gig, if you can get it. IMO.
Next week Illiquid pink sheet Syncora’s PPS will trend lower on very low volume. Market Maker will crush Syncora after day ten at $4.50. Managements overriding goal is to keep their fat paychecks coming, indefinitely. Watch out below. IMO.
Perpetual illiquid pink sheet Syncora going to get crushed on day 11, and crushed again after March 28th. No catalyst going forward. Board inept, their overriding proiority is to keep their fat paychecks, for doing very little work indefinitely. IMO.
Great post Andecker. After day 10 above $4.50 much of the boards incentive goes away, and they may slow play, for a variety of possible reasons. Two rationals come to mind. Two milk their salaries for as long as possible and wait (could be a long time) until they sell only part of the company. Again to keep the gravy train on track. IMO.
Hoping it closes below $4.50. 10 days starts from day one again. Very good article on Puerto Rico and the potential tsunami in the municipal bond market. If not addressed soon run for cover. IMO.
Wow, I’ll be buying on the pullbacks from here. I hope it goes lower. IMO.
Greek, I surrender. I will be buying on any and all pullbacks from here forward. IMHO.
Syncora selling off. Slowly yes, but definitely selling off. Big boys don’t want to panic retail yet. But capitulation will happen soon. IMO.
Very possible that at least one other Legg Mason has been selling slowly. Watch out below. IMO.
Watch out below. Soon like Legg Mason in 2014 another large position(s) will Dump Syncora and the selling will be relentless. Pigs get slaughtered. IMO.
Notice how the pumpers have said zilch about release of annual statement. Because it’s crappy. Don’t believe the hype. Pigs get slaughtered. IMO.
People are tripping over themselves trying to get out of this sham stock/company. Absolutely no reason to buy, many many reasons to sell at current inflated PPS. $2.00 sooner or later. IMO.