Cavco Industries, Inc. (NASDAQ:CVCO) hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $137.71, said Modern Readers.
“Several brokerages have recently issued reports on CVCO. BidaskClub downgraded Cavco Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday,” that source said.
The Daily Business News on MHProNews noted on Thursday from a legal source that certain changes in their corporate bylaws appear to be in preparation for legal “incoming.” That “incoming” is a result of what a Cavco insider told MHProNews was the “debacle” of their now-former President and Chairman, Joe Stegmayer, being issued a subpoena from the Securities and Exchange Commission (SEC) involving a trade. See the related report immediately below, and others that can be accessed after the by line by clicking the linked boxes.
The revelation of Third Avenue Value Fund selling their position on CVCO has likely added to the rout. A reported insider trade certainly didn’t help. The most recent report on the developing issue can be accessed via the linked box, below.
Headlines and Tweets are Moving Investors…
The nation’s investors have noted how mere tweets by or about Elon Musk could cause shares of Tesla to move up or down. Another example is how a headline that Warren Buffett, Jeff Bezos, and Jamie Dimon last year we’re exploring a healthcare initiative sent healthcare stocks down, and dragged the markets with it.
There is an open question at this point if Cavco is now a ‘value,’ or is awaiting the next headline that could push its stock lower still.
Manufactured housing is needed, but the vagaries of the markets are something savvy investors must consider.
In this environment, perhaps it is no surprise that Legacy Housing (LEGH) did well on its initial public offering (IPO), on the same day that CVCO hit its 12-month bottom. For that report, including an exclusive from Legacy, plus the rest of Friday’s manufactured home connected stocks closing numbers, click the link below.
Legacy Housing Exclusive to MHProNews on Firm’s Solid IPO, Plus MH Market Updates
As a disclosure, MHProNews’ management holds no position on any manufactured home tracked stock and has no plan to open a position in the near term. Our reports are independent. “We Provide, You Decide.” © ## (News , analysis, and commentary.)
NOTICE: You can join the scores who follow us on Twitter at this link. You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here.
NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two.
1) To sign up in seconds for our MH Industry leading emailed news updates, click here.
2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.
3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources
Related Reports:
Cavco Shareholder Suits Prepping, CVCO, SEC, Insider Responses to Growing Scandal
Manufactured Housing Institute on Cavco Industries, ex-Chairman Joe Stegmayer SEC “Debacle”
