Quote:
Originally Posted by lewdog
Woof UWMC taking it in the shorts. Sell off on monster volume today.
My apologies, I thought the bottom was upper $6's. It's in my passive account so I'll just hold for now and collect the 5% dividend.
Also in my passive account (ROTH IRA)
LCID
AAPL
CGC
PYPL
SMG
ARKK
ILUS
I like to add some beaten down value plays in this account, hopefully ride a wave up, and sell off later for profit on some of these names and move to other value plays.
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I've got a miniscule amount of UWMC, and it's been a dog. I read a little clickbait article just yesterday that said it's incredibly undervalued if one looks at projected P/E over the next 12 or 24 months. (I don't remember the time frame.) They were saying something obscene like the forward P/E was under 3, which implies in my mind that the stock is undervalued by a factor of 4 to 10. So I was pondering maybe breaking my rule about turning small dogs into bigger dogs. Good thing I waited. I'm still intrigued by the article, though, and the dividend salves some of my pain so far.
From what I could figure out, though, the big hit today was because they're issuing more stock and diluting share value. It's not like they had bad revenues or earnings, but diluting share value is annoying.