PMI Group Inc. (PMIR)

[Makemoneymonay]

This is a weird stock. There are so many little trades for about 200 shares bringing the price down sometimes over 10%. It would seem to me that MMs would be trying to keep the price higher, not lower, so they could get more money for the shares before they get cancelled. I guess maybe they can make more money selling them at a lower rate where the spreads are bigger? Still the volume suggests they're trying to accumulate at the cheapest rate they can. Perhaps setting up for one more big pump and dump. Who knows?

The other mystery is debt/assets. We owe the bond holders $700 million, right? They're gonna get $200 million in cash. That leaves us $500 million short. But the documents all say we have $1.2 billion in tax assets. Tax assets are not as reliable as cash/cash equivalents/short term investments or even material assets, but they are nevertheless assets. That means our assets are larger than our debts. Isn't that what it all comes down to??