Mr Cooper Group Inc (COOP)

[remmy]

Exactly right. Investors are waiting for the release of accurate financials, relisting on a big board, and a plan.

Any one of the three should raise the stock price. Until then, the stock will hover around actual cash value subject to the usual ebb and flow.

Also remember that many holders of this were preferred holders or of other debt instruments who got converted. And holding common stock, much less a "penny" common stock, has no place in their portfolios.

Therefore, in the absence of large, outside buying, i.e., hedge funds, it will fall until those converted are done selling. Granted, I 'd guess they waited a couple of days to see if it took off and they'd recoup some money. But since yesterday, they've mostly decided to sell this week, if not already, imo.

While I would also have preferred that it not trade for 30-90 days to get itself together, the short-term stock price is irrelevant to its long-term valuation.

The question is, who has the caj*nes to patiently hold a stock that's dropping fast, besides myself? We shall see...