Secondary Market/Investors
American Home: We’re Just Fine, Thank You
By
PAUL JACKSON
July 20, 2007 10:55 AM CST
Following up on a recent post that looked at a quick drop in American Home’s stock price Thursday, per MarketWatch, the drop was much ado about nothing:
American Home Mortgage Investment Corp. said on Friday that none of its warehouse credit lines have been pulled, scotching a rumor that knocked more than 20% off the mortgage lender’s market value on Thursday. “No warehouse lines have been pulled,” said Mary Feder, vice president and investor relations director at the company. American Home Mortgage shares climbed 13% to $12.12 during late morning trading on Friday. Yesterday the stock dropped 21%.
Do you think investors are just a tad jittery?
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