I just checked, IFL (IFLI.OB) stock is around 12 today. Those guys that purchase around 4 in early December must be feeling good..
they should sell now, before it drops to its book value.
"they should sell now, before it drops to its book value."
Who knows when that will be.
book value is an arbitrary number
How can it be an arbitrary number when it's based on certain asset/liability calculation?
"...determined from a company's records, by adding all assets then deducting all debts and other liabilities, plus the liquidation price of any preferred issues. The sum arrived at is divided by the number of common shares outstanding and the result is book value per common share."
Excellent candidate to short IMO
Spuds Buckley is likely correct!!!! The problem is that I'm long 100 shares. :-(
Sold today for a $2.00 profit per share. Not sure if I'll buy it ever again, but made a nice profit this time.
I spoke to my buddy who's a stock broker and told him to look into the stock. Supposedly it has a price/earnings ratio of negative 40. This doesn't impress "seasoned" investors.... but isn't stocks based on what the public perceives in the company not the financials? After all if you looked at a companies financials and invested in whatever looked best wouldn't everyone be rich?
Everyone thinks they are a genius when concerning this stock.