AdamDavis
2023-03-21

$New York Community(NYCB)$ I've been in and out of this stock since 2011 when I purchased my initial lot at 16 and change and it paid a dollar. After a runup to 17 and a failed merger that for some reason wrecked them, they cut the dividend. After a couple of years they started to buy others' castoff junk. This past week was another example. I made good money on NYCB in 2015 and lost money in 2017 and 2022. I bought on the recent dip and sold Friday to make a few shekels. The bank leadership has been perpetually bad, and I doubt that will change. If it dips again I may buy for another potential bump, but based on my experience, the bank is not a good long term investment. People crow about the dividend every time the price drops, without fully appreciating how quickly they will cut the dividend again when they need the cash.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（11）

  • Top
  • Latest