Over the last few days, shares of New York Community Bancorp (NYCB) gapped from about $10.45 to a low of $3.60. All after getting beaten down by a write-down on commercial real estate loans, and a dividend cut. However, insiders are quickly buying up the battered stock.
Executive Chairman Alessandro DiNello paid $209,480 for 50,000 shares at an average price of $4.19. Director Peter Schoels bought 100,000 shares for just over $414,750. Lee Smith, senior executive vice president, bought 25,000 for just over $101,250. And President and CEO Thomas Cangemi paid $49,900 for 11,310 shares of NYCB.
NYCB is also technically oversold on RSI, MACD, and Williams’ %R, and hasn’t been this cheap since 2009. It’s also trading at less than half of growth, with a PEG ratio of 0.47. It’s trading at less than sales, with a price to sales ratio of 0.96. It’s also trading at about a third of book.
![🧐 In this video, Dylan discusses a recent Bloomberg article that sheds light on the hidden dynamics within the crypto market.
[Bloomberg Article - https://www.bloomberg.com/news/articles/2024-05-15/crypto-deals-kol-investors-get-big-valuation-discounts]
From influencers to financial gurus, many key opinion leaders (KOLs) are being paid handsomely to promote certain cryptocurrencies, often leading to classic pump-and-dump schemes.
🚨 Buyer Beware: If you're investing in crypto, it's crucial to understand the game being played. As Dylan's grandfather used to say, "If you don't know who the patsy at the table is, you're the patsy." This timeless advice is more relevant than ever in today's volatile crypto landscape.
📈 Whether you're a seasoned investor or new to the crypto space, this video offers essential insights to help you navigate these murky waters. Dylan is not here to debate the legitimacy or utility of cryptocurrencies but to ensure you are aware of the tactics used to manipulate the market.
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