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Congratulations to longs!
This is an important day for many of us. Not knowing how this would end, through thick and thin, a few managed to see this through. I am, personally, grateful for the contributors on this board who helped us understand many intricacies of this complex stock and industry. Cheers to you!
Great. So, we should be happy with $5.25 in about a quarter. Not a bad return. I can wait :)
Hi Denny,
Thank you very much for the insight. Do you know when they spoke to Syncora? Today or couple weeks ago?
Per Denny's Twitter post, the remaining value is ~$1.20. with 30% discount, IRR comes about to be ~%20.
Syncora Joins PREPA Restructuring Support Agreement
09/09/19
HAMILTON, Bermuda, Sept. 09, 2019 (GLOBE NEWSWIRE) -- Syncora Holdings Ltd. (the “Company”) today announced that Syncora Guarantee Inc. (“SGI”), its wholly owned, New York financial guarantee insurance subsidiary, agreed to join the definitive restructuring support agreement (“RSA”) with the Puerto Rico Electric Power Authority (“PREPA”), the Puerto Rico Financial Agency and Financial Advisory Authority, the Financial Oversight and Management Board for Puerto Rico, certain holders of uninsured PREPA bonds, and other monoline financial guarantee insurance companies.
The closing of the restructuring contemplated by the RSA remains subject to a number of conditions, including approval of the RSA by the court presiding over PREPA’s Title III case. Although the effects of the PREPA RSA were largely reflected in the Company’s second quarter financial statements, as a result of entering into the RSA, SGI expects a further positive effect on its surplus and, if and when such closing occurs, SGI expects a positive effect on liquidity.
It was an encouraging price action towards the end. The sellers seem to be out. Expect convergence to the real value.
Wonderful. Thank you for sharing Denny.
From Conference call:
Fred Hnat:
"We’ve got $32 million of cash. We have some physical assets that are held by Pike Pointe Holdings and the 80% interest in Swap Financial. So we’re going to be focused on monetizing the non-cash assets at Pike Pointe. The main asset there is the Chene Street property, a waterfront property in Detroit that we got through a Detroit bankruptcy. Swap Financial, which we own this 80% interest, it’s a very stable business. It’s a source of taxable income for SHL, the benefits from the NOLs. And we really have no plans to do anything different other than to continue to hold that very stable asset."
David Grande:
"Yes, couple of points to make on that. Before I do so, I just want to also mention, Fred, you had referenced the Detroit real estate property that you called the Chene Street, which is the name of the remaining development option that we have. I think I mentioned this in the past, but that particular property is off balance sheet right now. We haven’t taken credit for any of that on our balance sheet. Just want to mentioned that, something I had mentioned before, but I just want to make that clear"
Thought it sucks to lose so much hard-earned value in one way, the technicals are still intact and stock is moving within long-term upward channel. I am also encouraged by relatively low volume for a big-news like this. I agree with WowMan on this one. This might be a better time to buy than to sell. I think better days are still ahead. Perhaps, in-house experts can weigh in on the argument from both sides.
Cheers,
As disappointing as it is, shouldn't the share price be higher than the sale price? Is this is it?
Muchas gracias amigo Denny!
Now, that's funny.
Have a nice weekend!
I learned to ignore anybody who finishes a sentence with "IMO". That's all I need to say on this topic.
July 25, 2019 5:00 PM EDT
Syncora Announces GAAP Financial Results Release for the Six Months Ended June 30, 2019 and Conference Call Details
07/25/19
HAMILTON, Bermuda, July 25, 2019 (GLOBE NEWSWIRE) -- Syncora Holdings Ltd. ("SHL" or the "Company") today announced that it plans to host a conference call at 8:30 a.m. on August 15, 2019, to discuss its GAAP financial results for the six months ended June 30, 2019. A press release detailing this period will be issued after market close on August 14, 2019; at the same time, the Company's consolidated GAAP financial statements for the six months ended June 30, 2019, and certain additional information relating to the financial results, will be made available on Syncora's website (www.syncora.com).
The call will be webcast via the Investor Events page of the Investor Relations section of the Company's website at www.syncora.com. Following conclusion of the call, the Company will post a transcript on its website alongside a replay of the webcast that will be available through 11:59 p.m. ET on September 15, 2019.
Yes, I am buying as much as I can. The best investment I know to make.
Very well! Everybody is all-in already against the dealer. Is the last card going to make flush or royal flush?
BTW, any serious poker players in here? I played at WSOP couple times in the distant past and miss the action.
Excellent. Thank you for the answer.
When the time comes, we'll be all kissing each other. Hopefully that happens at north of BV.
Cheers
A question related to eventual, hopefully, sale of the company for those of you who have a deeper understanding of market makers than I do. When a company A is sold for, say $10.00/share, one would expect that one could sell his shares at that price. However, I have not seen that happening in my experience. There is always an hair cut by market makers to make money. The quoted process could be, say $9.95. In the case of a sale, since large amounts of shares are sold, this fee ($0.05 in our example) could be outrageous amounting to a highway-robbery. Does anybody know how to avoid that middle man altogether? What is the most cost-effective way of large amount of shares in that case?
Thanks & cheers.
A question related to eventual, hopefully, sale of the company for those of you who have a deeper understanding of market makers than I do. When a company A is sold for, say $10.00/share, one would expect that one could sell his shares at that price. However, I have not seen that happening in my experience. There is always an hair cut by market makers to make money. The quoted process could be, say $9.95. In the case of a sale, since large amounts of shares are sold, this fee ($0.05 in our example) could be outrageous amounting to a highway-robbery. Does anybody know how to avoid that middle man altogether? What is the most cost-effective way of large amount of shares in that case?
Thanks & cheers.
Sound of reason. How refreshing!
May 14th, it is. Fasten your seat belts!
Syncora Announces GAAP Financial Results Release for the Three Months Ended March 31, 2019 and Conference Call Details
04/29/19
HAMILTON, Bermuda, April 29, 2019 (GLOBE NEWSWIRE) -- Syncora Holdings Ltd. ("SHL" or the "Company") today announced that it plans to host a conference call at 8:30 a.m. on May 14, 2019, to discuss its GAAP financial results for the three months ended March 31, 2019. A press release detailing this period will be issued after market close on May 13, 2019; at the same time, the Company's consolidated GAAP financial statements for the three months ended March 31, 2019, and certain additional information relating to the financial results, will be made available on Syncora's website (www.syncora.com).
Is today "low vol is good" or "high volume is good" day? :)
Cheers...
He he... I did not know about this one. Thank you for bringing it to my attention. Needed something to occupy me while watching the paint dry.
Cheers,
Hello Friend...
This explains my thesis. Warn you it is highly technical:
and, for that extra kick we need, I wonder if this thing is going to go to 11?
There is a lot of activity after hours. Already up $0.06. Is news coming?
Intentionally driving price down because big buyers need shares available. Hold on....
must me another fat finger. Some people premature, you know, downloads stuff :)
Giddyyy UP!
Apparently, after hour price is $4.68
Verified with TDAmeritrade and Etrade both.
Shorts?
Does anybody have an access to VERY recent short interest data? I am curious what happened to that big chunk which does not appear to go away.
Thank you for step by step instructions :) Definitely doing it!
Would saying "we are at 52-week high" underestimate the gravity of the situation?
Syncora Announces Commencement of Strategic Alternatives Process
03/04/19
HAMILTON, Bermuda, March 04, 2019 (GLOBE NEWSWIRE) -- Syncora Holdings Ltd. (the “Company”) today announced that its Board of Directors has commenced a formal review process to explore and evaluate strategic alternatives for the Company focused on optimizing shareholder value and returning capital to shareholders. These alternatives include, among other things, a sale of part or all of the Company or its wholly owned, New York financial guarantee insurance subsidiary, Syncora Guarantee Inc.
The Board of Directors is being advised by Moelis & Company LLC, its financial advisor, Debevoise & Plimpton LLP, its US legal advisor, and Appleby, its Bermuda legal advisor.
Thank you Denny!
Yes, I for one, wouldn't mind letting this baby leave the nest and fly away. It's been a extremely emotional run for all of us I suppose. Few of us had the conviction to stay the course and still it was damn tough to hang on at times.
Perhaps, after we reach the end, we can all share how pleasant or painful this journey has been. I am looking forward to that day.
Have a nice weekend!
$4.50 is just another 5% from here, so no problem!
I hope you are right about $6+. At this point, with a good progress on the strategy, 20%+ moves are expected.
I just wished there were days to trade before the week ended. We had a good momentum going. Hopefully Monday.
Denny, what are you hoping to hear from the Company?
Block that fool! I did and don't see his messages. So much better!
Happy Holidays to all! Hopefully, we did not loose any long-timers in the couple weeks of virtual silence. I feel here is still so much more to look forward to! Any counter argument?
Thank you for the good news Denny!
Yes, it seems ready to move.
Today's price action was very weird, though. Anybody could make sense of it?