Thursday, March 8, 2007
New Century (NEW)
There is now speculation that NEW may file for bankruptcy, according to theflyonthewall.com which is a service carried on the Bloomberg, thus reaching the top trading desks of the world. This rumor has walloped the stock. I am flat on this one.. took my profit earlier in the week. The bankruptcy rumors fueled by word this morning of the departure of David Einhorn as a director. He controls 3.4 mln shares. Any surprise the Dow is 40 points off the highs when one of the biggest subprime lenders may be about to go under?