$WAMUQ: Ticket to Ride
March 22nd, 2010 at 9:11 am Posted by
Last week, The Dean taught his students a valuable lesson about $WAMUQ and he was right—this penny stock is quite the roller coaster ride.
On Monday, the stock dropped about 30% to $0.13 and, by Wednesday, $WAMUQ moved up 74% to $0.2269 before falling 21% to $0.178 on Friday.
Although search numbers are down slightly since last week, $WAMUQ still makes the list for most active stock forums on InvestorsHub.com and most searched stocks on BoardCentral.com.
If you’re wondering what has people so curious about this stock, The Dean suggests you do your homework and catch up with the rest of the class.
On Friday, March 12th, $WAMUQ announced that a dispute over $4 billion with JPMorgan & Chase (NYSE: JPM) and the FDIC has been “tentatively resolved.” Remember folks, back in 2008, the FDIC shut down $WAMUQ and the bank’s assets were sold to $JPM for $1.9 billion.
In addition to this $4 billion figure being thrown around, $WAMUQ stands to see about 40% (or $1.04 billion) of $2.6 billion in operating-loss tax refunds, after the FDIC takes a 60% cut.
Another portion of this agreement requires $JPM to buy $50 million worth $WAMUQ‘s Visa holdings.
Day-to-day, The Dean thinks $WAMUQ has the attention and volume to make some penny stock profits and, at the very least, this stock is worth a ticket to ride.
