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alstry (35.98)

Wall Street Wants your $$$$$

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September 11, 2008 – Comments (1)

Wall St.'s gloomiest backdrop in 80 yrs.

Bruce Bittles of R.W. Baird calls Street uncommonly nervous and scared — which "typically happens near a market bottom."

http://www.marketwatch.com/tvradio/player.asp?guid={CC1D27AA-ECBA-4435-BC95-FAF398E51649}

What if we are still near the top??????????

How far can this thing drop????????

1 Comments – Post Your Own

#1) On September 11, 2008 at 3:34 PM, alstry (35.98) wrote:

In a terse statement issued Thursday morning, the NVR said it "is no longer pursuing its public offering of $325 million aggregate principal amount of convertible senior notes due 2038 under its shelf registration statement filed with the Securities and Exchange Commission. The company decided to cancel the offering due to market conditions."

http://www.bigbuilderonline.com/industry-news.asp?sectionID=363&articleID=772217

Clearly, all sanity has evaporated from the current market.  Arguably the strongest HB finanically can't raise capital in the current environment, cancels an offering, and the shares go up 5%.

If this was a bottom...than NVR would have been able to raise money. 

 

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