Resource America (REXI) Message Board

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Strategies & Market Trends : Resource America (REXI)

REXI 9.780

0.0%

Sep 9 5:00 PM EST

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To: Bill Wexler who wrote (50)	8/30/1998 12:45:00 AM
From: Candle stick	Read Replies (1) of 220

It is not the per share price that I am looking at when I say there is nothing left to gain. Obviously any stock can go to zero. However, given the numerous positive events that have taken place for REXI since its drop from 36 to 13, it would appear to me that the upside holds much more potential, at this point, than the downside.....especially given the 50 million dollar buyback announced late Friday. The float is only 12.7 million shares...assuming a price of 13 1/2 (lets say the company buys stock in a range of 11-15) that would be 3.7 million shares removed from the float, equaling 29% of the float. I think it highly unlikely, given such a scenario, that REXI could ever see single digits. Also, Robbie Stevens and co. has given the stock the thumbs up sign, saying they see NOTHING irregular about the accounting, and no reason the company won't meet or beat earnings estimates. Given the reduction in shares from the buyback, earnings should come in higher than expected.....why on earth would you short this stock at this point? What will make it go down? I have no clue. Care to fill me in?.................;^)

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