Washington Mutual Preferred fka WAMPQ

[marayatano]

Edited:
It is based on perception. Some see "cheap" and some see "value". Buying "cheap" does NOT mean you are buying "value".

K @ .92 cents means P should be $36.80.

P @ $29.39 means K should be .73 cents.

If you buy K at .92, then P represents a better value, although K at .92 looks cheap, but reality, P's are better.

Like I said, it is all perception.

Another is people are more likely to buy something at that is a $.92 as opposed to something that is $29.39 when you are on the pinks or in general for that matter.

If we were on the NYSE/NASDAQ, people are more VALUE orientated.

Another is that K are under no restriction as far as ownership.

Others have said K are good to trade to accumulate more P's.

Also, people are under the false pretense that P can be converted while K cannot. In BK, it P's are converted, rest assured, K will follow the same path. If that happens, Commons are toast.

imo