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Home» Commentary » Washington Mutual Inc. (WAMUQ): congratulations to the PSH’s subscribers

Washington Mutual Inc. (WAMUQ): congratulations to the PSH’s subscribers

Posted on May 23, 2011 by PennyStockHaven in Commentary, Stock Picks - 1 Comment

Yesterday’s evening we sent newsletter to our subscribers titled “The Perfect Trading opportunity” (see below).
Congratulations to the PSH’s followers with 80%+ daily gain on WAMUQ!

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Washington Mutual Inc. (WAMUQ) may be the perfect trading opportunity after releasing news on Friday, May 20th where the  company filed a Notice of Adjournment regarding the hearing to consider confirmation of the Company’s Modified Sixth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code.

In case you haven’t passed the bar and are wondering what that means, see http://www.kccllc.net/wamu for a more human explanation.

These recent news have cast a spotlight on WAMUQ. For a number of years now, one could only speculate how much, if anything, common shareholders would receive in a settlement. It’s all still speculation, but recent news show a glimmer of hope that there may be something in store for stockholders, “as Washington Mutual’s proposed plan would distribute more than $7 billion to creditors, paying them in full”. 

Suppose WAMUQ were to pay out common shareholders an amount equal to 5% of preferred shareholders’ compensation. At this rate, that would mean each common share would be valued at $0.206, a significant advance over Friday’s $0.079/share close (161% return, to be exact).  We computed the payout by multiplying $7Billion by 0.05 or 5%, and then divided by the common shares outstanding, some 1.7Billion.)

To the point, we’re staring down the same numbers as thousands of other investors are. The potential payout will, without a doubt, help WAMUQ rally. HEre’s where we see potential for WAMUQ to be the perfect trading opportunity, as early as on Monday’s session.

Looking for more analysis? See our STREET SENSE video where we break down WAMUQ’s chart.

Happy Trading!
PSH Staff

penny stock alert, WAMUQ, Washington Mutual

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