This morning I received the following email from the Chaz Hinz, a Countrywide Home Loan Consultant:
Many of you may monitor Countrywide’s stock, and you may have noticed unusual activity today. I would like to share with you that we have just issued a statement to the media debunking the marketplace rumors that appear to be affecting our stock price today. We have also spoken directly with several major media outlets in the last hour to continue to dispel these rumors. As a result, news stories with Countrywide’s statement are already running and the stock has reacted positively.
Our media statement is as follows:
Countrywide has been made aware of rumors in the marketplace regarding the Company, and we are making the following statement.
“There is no substance to the rumor that Countrywide is planning to file for bankruptcy, and we are not aware of any basis for the rumor that any of the major rating agencies are contemplating negative action relative to the Company.“
Hmm… Is it maybe time to invest in Countrywide’s stock which plunged 27.4% at the market close today at $5.47? I don’t know about you but it looks good to me at this price for the long run!