Long holders beware, page-457

I suspect the convertibles converting to equity are putting pressure on the SP as those holders take profits. The buyback will mitigate some of this. Also the steady decline in the coal
price is weighing on NHC, so we'll get days like this. The market is trying to figure out where fair value is and where the coal price is heading. I think even if coal fell back to US$250, NHC would still be good value at this price, but the shares will trade much weaker if that happens. But when you're printing as much cash as NHC is, that weakness will be short lived in my view.