Guaranty Financial Group Inc just hit a new 52-week low today at .17/share. No real reason for the drop. The company hasn't released news in a long time. This may have contributed to the plummeting price. The range between the 52 week high and low is huge. Volume is picking up tremendously.
Definitely one to radar. This will move due to the increased attention it'll get from the new low, imo. Please do your own research.
Making a move as I type...
Posted by Smash on :
One thing to add, this is trading on the NYSE, not on pink sheets or OTCBB. I think its going to move on its own, but if we get any news, this would skyrocket back to where it should be, imo. Do your research
Posted by sju1973 on :
Careful on this one. This bank is in serious trouble. Might need FDIC to step in for survival. I would stay away.
Posted by Smash on :
sju1973, good call on the added risk. Definitely requires a lot of research and understanding of risks involved. This could present a good short-term play thanks to speculation and added interest. BUT there is always a risk of great loss with these kinds of companies. May be a good one to radar in case things get better in second quarter if you don't like the short term risk/reward. Thanks sju1973
Posted by Smash on :
Just closed all positions near .21/share. A little over 22% gain in about 24 hours, not bad. All chart indicator point to a dive though. Price is near upper bollinger band, and stock is overbought. Might be a good selling point if you own shares, which I don't think anyone on here does. Do your own research. Smash
Posted by jdizz on :
are you going to buy back in once it goes to around .17?
Posted by Smash on :
Jdizz,
I'm not sure. I'll keep watching it and check out the chart if it does (come close to the low). As Sju1973 pointed out, this is a very risky stock. If the chart looks positive (bollinger data, oversold, etc) then that would point to a new rally. But if you buy in again at a .17, and they put out something unfavorable, it would probably plummet. So we'll see, I'll keep watch
Posted by jdizz on :