Post by
Cheeky20 on Aug 18, 2023 11:18am
This is the start of the Hudson exit plan - stay long
This is effectively the start of the end for ECN/Triad. For those that listened to the earnings call or read the transcript ECN doesn't really exist anymore. It's all been rolled into Triad, just the name and few headcount, like Hudson, remain. And he is hanging around to cash out when the shares go higher.
The new investors pretty much bought 20% of the company for $3.05. That should be the floor going forward, assuming ecnomic conditions and the manufactured home market remains strong and these guys can take some market share. Skyline gives the company new opportunities to grow originations, as does the additional Blackstone $.
Just have to be patient. I've been in ECN since day 1 and Hudson has created significant value, just bumpy along the way. Hudson sold Kesslar for a nice gain. Should do the same for Triad.
Hudson was buying in the $2.5x range after earnings release. Previous buys were in the $4-$5 range.
For me my ACB is still around $2.70. If this thing can get back to $4 I'll pull the trigger.
Comment by
Smallcap123123 on Aug 20, 2023 1:31pm
Hudson just bought 200,000 shares on Wednesday. Other management bought as well.