cosmostein (81.64)

BANKATLANTIC (BBX) Hmmmmmmm or Ewwwwwwww?

October 19, 2009 – Comments (0) | RELATED TICKERS: BBX

Just looking to take the temprature of the masses out there,

BBX was enjoying a nice run in share prices (to as high as 6.65 on August 7th up from 0.66 in late Feb/early March) till they opted to raise money through an offering which allowed every Class A or B share holder to buy 4.5 shares of Class A stock for 2.00 for every 1 share they already owned from between the end of August thru the end of September. 

Needless to say the existance of "cheap stock" beat the price down throughout the offering period and it sits at around $2.20 today.

I would imagine with a lot of 2.00 stock buyers in the market that is being moved around I figure the share price will suffer, 

However, am I off my rocker to think that once all the cheap stock filters through the marketplace that we may see BBX continue to slide upward or has the additional stock on the marketplace sunk it?