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June 6th 2008 19:44
Ten months ago at Mover Mike, I noted that Novastar Financial Inc. (NFI) stock fell as much as 28 percent Tuesday, a day after a wild ride.
You can see from the chart that NFI (now NOVS.PK) had traded over $80 a share in early 2007. In August, just five months later it was $5. Today, it's on the verge of bankruptcy.
Forbes writes
Another mortgage firm may bite the dust in the ongoing sub-prime crisis.
You can see from the chart that NFI (now NOVS.PK) had traded over $80 a share in early 2007. In August, just five months later it was $5. Today, it's on the verge of bankruptcy.
Forbes writes
Former mortgage lender NovaStar Financial Inc. said Thursday some of its creditors are demanding repayment of about $51 million in debt, increasing the likelihood the company will have to file for bankruptcy protection.
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