I SOLD ASPS STOCK... Here's Why
Here's Why I sold out of my ASPS Stock position after holding for over a year.
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ASPS Stock recently sold a subsidiary for a gain of over $100 million. This caused the stock to jump over 30%. I took this opportunity to sell the stock based on the following reasons:
Declining fundamentals: Big revenue decreases this year, large cash burn
Cycle turn not imminent: the foreclosure market is likely to not increase to the levels I originally expected
Balance sheet concerns. ASPS can continue this way for a couple of years, but what happens after that?
#investingclub #asps #stocks
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