If there was any kind of oppurtunity here,their lack of action or some kind of press release,with some kind of explanation sure makes them look very weak.
Was this actually a pre quarter result i thought the actual results were supposed to be on March 18th according to Globeinvestor,is this accurate and can you think of anything they could possibly say that would make this look like an oppurtunity given a certain time period or just accept this as the total Calamity that it appears, still hanging on and needless to say very SOUR
It was a pre-release before full results March 25. We have an update today on GSY in our Member update. S&P downgraded its debt today and said it may reduce its rating further. We highly doubt the company will have any really positive statements. We think it is shifting into survival mode and needs to deal with its covenant breach. There may be an opportunity for the stock at some point, but we would not expect much in the medium term. We have taken it out of the Growth Model and this was simply a disastrous update from the company. The surprise of the announcement has been reflected in the share decline. While we do not think any investors were expecting a great report, it was the degree of the credit quality change that was most surprising.