Analyst Expects IndyMac Shares To Hit Zero
Read the full article: http://www.money-rx.com/blog/2008/07/indymac-hits-bottom-lit...
Paul Miller, a Friedman, Billings, Ramsey & Co analyst, cut his price target for IndyMac to zero per share from $1.00. Based on Miller's update, and the fact that Fitch ratings cut Indymac Bankcorp from CC to B and IndyMac Bank FSB from CCC to B, the stock just crashed 43.66% and went from $0.71 to $0.40. Not much to go before IndyMac hits bottom - literally.
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That should be "Fitch
That should be "Fitch ratings cut Indymac Bankcorp from B to CC and IndyMac Bank FSB from B to CCC". Sorry bout that.