I’ve had my eyes on CALC for a few days now and just noticed that it started to make a move today. California Coastal Communities (NASDAQ: CALC) ended the day at $1.70, up 13% on 6x average volume. I’ve been wondering when CALC will get some attention because it has a book value of $5.42 and yet, it trades at such a discount to book. Furthermore, the whole homebuilder sector has made a nice rally lately but CALC hasn’t made much of a move [...]
At today’s share price, Maguire Properties (NYSE: MPG) stock is priced for a bankruptcy. They closed at $1.33 per share which gives MPG a market cap of about $63 million. This means that the investors think MPG is completely worthless…why? Because MPG actually has more cash on hand than their market cap. Last reported, they had about $64 million cash on hand. That means, just with the cash they have, they can buy back everyone’s shares at today’s price and go private [...]
The force driving stocks down the past few days have been the financials. First it was “rumors” of some potential banks shutting down, now it’s just profit taking. Today, stocks were down modestly — which is healthy considering that stocks took a major dive yesterday. A small pullback was probably overdue. However, it’s good to step back once in a while and look at the major trends in the market [...]
I discovered another interesting stock today called Capital Trust (NYSE: CT). It’s a REIT (Real Estate Investment Trust) with a lot of money in CDO’s. Whenever I think of CDO’s, I think of write-downs, increased allowances for future losses, and charge offs — all very bad things. However, on the bright side, CT has a book value of almost $15 [...]
