Medallion Financial: Price Drop
That didn’t last long. Medallion Financial’s (MFIN) stock price popped after its rambling year end 2016 earnings release and reached $2.15 from $1.69 just before the announcement. Now the stock price is dropping back again as speculators reconsider in the early hours of Thursday March 9, 2017. When we checked a few seconds ago, the 10-K had not yet been filed. Within minutes of that release expect fireworks in one direction or another as some of the questions left unanswered in the press release will get-at least-some degree of resolution. Look for what’s happening or not with restructuring MFIN’s various loan facilities with banks and the SBIC. Also what provisions and write-offs have been assessed on medallion loans throughout the organization. Plus, what’s the latest on regulatory reviews announced in the prior quarter. And many more issues besides.