no news that I can find…
A motley fool article came out about an hour before the sudden drastic drop. Nothing new in the article either that hasn’t already been discussed to death here and elsewhere.
Came home and saw it at -5% quickly falling to -11%!
Otherwise it looks like no significant news.
The article was actually quite positive about BOFI. It just said the authors wouldn’t invest in it because of the what if risk of the ongoing lawsuits.
Probably a good time to buy if you were a day trader and fast enough to sift through the news!
Well, I was lucky to be sitting right in front of the computer. So, after about 10 minutes of looking for info, bought a little @ 25.24
Good luck everybody,
HP
For me, that is one of the interesting/annoying things about MF: one of their paid subscription services will recommend a stock, and then one of their analysts will come out and advise against buying the stock. I know the theory is that is what makes MF “motley,”-ie-having a variety of view points, - but it doesn’t help the stock price.
In this particular case, I notice that today’s article fails to point out that, to date, the applicable regulatory agency has found no evidence whatsoever of wrongdoing by BOFI (unless there has been some news on this I have missed).
I just might go out and buy more shares today, as some of you have done. Maybe we should actually thank MF for posting this article(?) (said with tongue in cheek).
http://thefly.com/landingPageNews.php?id=2526915&headlin…
Thanks Beachincome.
In this very brief blurb, it appears the allegations are against QB, not BOFI. But it is difficult to tell without having additional info.
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FBR is defending BOFI. The bankrupt party is alleging the loan from Quick Bridge is not valid in an effort to have the debt dismissed. They say this type of allegation is not unusual in bankruptcy court and that accusations are aimed primarily at Quick Bridge and not BOFI. FNR recommends buying on weakness.
Rob
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