Captain Obvious here....this chart looks awful...I'm not long or short hcg, had a read of the OSC release and looked at the 5 year chart.
One question comes to mind, how does this not go lower? Seems to me the best days are behind this company. Given the stage the Cdn housing market is at (5 standard dev Price moves, Potential increased Gov't intervention etc) combined with potential regulatory company trouble....who would touch this stock? I suppose if you could do homework and come to the conclusion that all the negativity is already baked into the share price perhaps you dip your toe in. However, the trend line appears to be clearly to the downside from here.
Maybe I'm wrong and there is still a ton of people out there who can't get lending from the banks and need million dollar mortgage financing (and have the verified income to support such borrowing).
Oh and house prices keep going up (5 standard dev price moves to 7-10....??) and these giant mortgages never go underwater with negative equity....and people don't suffer job loss.
I'm told (personal) bankruptcies in Canada are at 15 year lows....maybe we get to 20 or 30 year lows but directional change is inevitable.