MCAN Mortgage Corp T.MKP

down 8% since reaching all time high on Nov-15

[Strohs16]

Weird, after reaching all-time high on November 15 at $19.18, MKP now at $17.65, down roughly 8%, since then, on no news. (still up 28% YTD including dividends)

Not terribly concerning for me, as I am a long time shareholder (I've owned MKP shares for as long as I can remember - 15 years?)...I too plan on participating in the rights offering in all of my accounts.

Just odd that we are down so much, whereas other bank stocks are actually appreciating over the same time period.

Perhaps this is one of the downfalls with thinly traded stocks?

Any ideas out there?

glta MKP longs

[Lawyerup]

Yup, very odd.  Absolutely no news, no basis for the steady drop in prices for the past week.  I bought in the $18.90 range its very strange that we have dropped so much for a company that is firing on all cyclinders and pays a nice dividend.  Some stocks on the TSX I just shake my head they shoot up for no reason at all and others with solid fundementals like MKP drop for no reason

[JayBanks]

We WILL fall every time there is a rights offering like this well below share price, towards the price of the offering. It kinda shows where Management values the company at, so why would someone pay a large premium on that price to get shares, smart money will bid down. Also you will have the issue of current shareholders figuring out what their maths are on rights shares gained and they can