Financial 15 Split Corp T.FTN

FTN UNIT NAV = approx. $19.99 to Feb 19 close..

[mouserman]

So my spreadsheet had FTN gaining 40 cents since the Feb 12 update.  Best mover was Wells Fargo up over 12 % in that short time.
Now finally pushing 20$ unit NAV... if they havent put more of that cash to work. It could be thru 20$ already.

[yell]

Slow but surely. Treasuries rates are increasing good for banks danger for tech in the future.

[EdPaquette]

Tech is in a bubble, lots of companies with no profits and high shares.   When their bubble bursts it will cause a downdraft for all stocks.  If the markets look ahead 6 months and most shoppers will be vaccinated in 6 months,  the correction could start any day now.  .

[gribbs2]

why is the stock price only 9.80 ?   is this ever gonna go up ?

[alkhor]

The stock is at $9.85 while its' NAV is $9.99 (don't forget to subtract the $10 for the preferred), so it is only 14 cents below NAV. Traditionally the NAV of the combined shares go to below $20 and get support at $15 when the divvies are suspended allowing it to rise again. There is very little chance it will go up much from here but will keep paying a divvy unless there is another

[EdPaquette]

Overnight offerings are guaranteed to wreck your day, and there was one January 7.  It takes 3 months to rebuild the premium.   The new shares were priced at 9.80, and we just got back up there. The next 6 weeks should be fabulous. 

[gribbs2]

in what way?  im down huge on the stock, my average was $10 before the consolidation..

[mouserman]

Yes those who bought into early offerings of FTN are down big, and may never recover the capital losses, but didd continue to collect distributions on the preferred. BUT  those who invested in COMMON shares bought in the open market at prices around10$ , are not in nearly as good of shape.  DFN also has done many offerings at prices 50% above todays.. so those invested there, are mostly

[mouserman]

OOPS meant to say carrying a yield of over 15%...not 15$