I have been here before with this stock. I think its very sensitive to volume. On Jan 29 it closed at $23.68 on 132k volume the next trading day 600k traded and it dropped to $21.77 to be followed by almost 800k and it dropped further to $21.15. Look at a chart and all the rises in volume seem to cause a sharp drop in price.
However, the other thing I notice is that I cannot get a model that I am comfortable with as their direct results are impacted by buying or not buying debt... I am left using their metrics all the time and I am uncomfortable with that. It's almost like management can trigger reactions to my view of the company.
I am in it and have been since 2009 and really I just think it is behaving well and disciplined so I will ignore the sp. Around $17.00 I will top up.
CCP Price at posting:
$19.04 Sentiment: None Disclosure: Held
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