Penson Worldwide Slides 21%, But Off 52-Wk Low, on Risks It Will Lose Customers BY Midnight Trader
— 1:44 PM ET 05/12/2011 01:44 PM Eastern Daylight Time, 05/12/2011 (MidnightTrader) -- Penson Worldwide (PNSN) is lower after a JP Morgan Chase analyst says PNSN risks losing customers after because it may have to take a writedown on $97 million owed by customers, spurring concern about the company's balance sheet. The amounts owed are equivalent to almost a third of PNSN's shareholder equity, Bloomberg reported. Shares hit a 52-week low of $2.73 earlier. Price: 3.09, Change: -0.84 , Percent Change: -21.37 http://www.midnighttrader.com
=== funny thing about *karma* .. eventually it comes due in october 2009 .. *rumors* swirled about KNIGHT <NITE NOW KCG> that still haven't *abated* and their stock has never recovered from the 11 - 12 buck *haircut .. er .. short* .. that kicked in due to those rumors ..
can't wait to see if even one tenth of the *stuff* rumored against penson is revealed in 2011 .. if knight is a guide <where the sec is concerned> my guess is *maybe* by 2015
== 4kids all jmo
10/5/07 -- there are no coincidences here ... oh and like many other longs .. not selling at this level --