I thought I was going to get to take a risk on IRE at the close yesterday, for some reason I decided against it. However, I immediately regretted not buying it when news surfaced that pushed shares of IRE back to $2. This mornings opening looks to put my regret in check, in a sudden reverse shares of IRE are now down further than before yesterdays close.
News that the Irish government will increase its holdings in IRE and likely dilute an already battered stock. Is IRE oversold at these levels? Assuming that IRE, and Europe altogether will emerge from this crisis, yes I think there could be some profit to be made in IRE stock. However, I am not a registered financial adviser, so my opinion only counts for my portfolio.
Citigroup received significant cash, and debt relief from the US Government and the stock has performed fairly well from its lows. However, FRE, and FNM have not performed as well! I am not yet willing to buy IRE, but I am watching closely!
Always consult with a registered financial adviser before making any investment decision. Penny stocks investing is risky and can result in entire loss of investment.