Anyone have any idea on why PN is down today about 20% on high volume? I don’t see any news. They should of taken that offer from Ebix.

Sox Nation

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PN paid out that ridiculous $2.50 dividend today. Miraculously after opening at 5.35, they shot back up to 5.94 (maybe people thought the drop was a buying opportunity???) before ending the day at 5.03. Still, if you bought Friday at close (6.30), you’re up 20% in one day even if you held 'til the bell. But I wouldn’t be looking forward to tomorrow.

What an insane ride this stock has been on.


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The status of that whole $2.50 dividend is very unclear to me. There was a temporary court order delaying it which I think is now scheduled for a hearing in January. But I’m not sure if that means about when and if it gets paid and what the ex-div date will be. Is anyone on top of this?

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It now looks like the preliminary injunction hearing won’t happen until late March at the earliest.

Not exactly shocking that this suit was filed.