Many believe WMIH will not move on an acquisition until the BK is finalized. It is obvious by PPS dump that WMIH has dropped the ball on acquiring an income producing company with the cash reserves; the BOD should be held to account for this, but they will not, because WMIH is currently a dud, a joke, a do-nothing but a vessel used to collect shares and income for board members.
If WMIH is waiting for BK to commence, then it will be waning into EOY before announcing future. If not, then Shareholders should scream as loud as possible at next BOD meeting. They need to be drilled on what the hell are they getting paid for? They are not doing anything, other than using it as a cash cow.
Why did KKR invest in this company? We got nailed on NOL value in terms of future tax loss value. NOL value never changed, just mirage of such in terms. What did they see, because I sure as hell do not see it. You asked, I answered. This stock is garbage for now. When the acquisition is announced this will take-off like a rocket ship, until then it's just a set it and forget it, like I said in 2012.
Cheers
Don
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