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Non-Tech : Income Investing
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From: Stocksman51111/10/2021 1:33:54 PM
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Any opinions on OTRKP cumulative preferred stock? Its fallen a lot from its par value in recent months. The company OTRK lost two major contracts, but they just declared the preferred dividend...yielding 18% now, price was as low as the 11s recently for the preferred, now around 15. The common has a decent balance sheet with good ratios, and a lot of cash and some LT debt.

I would like to coin a new phrase... a broken preferred. Any other interesting broken preferreds that have the potential to return to par with a high dividend? I saw a huge amount of them in early 2020. It was actually amazing how many shot down so far. Now many of them are back to par. It was an amazing opportunity. So many people selling these illiquid preferreds at the same time, panic selling can create great opportunities.
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