Thornburg Shares Unchanged
Thornburg unit recently defaulted on $300M of notes, the securities commission and exchange announced the mortgage didn’t make the payment needed on the final maturity date of the short term notes April 14th.
Thornburg isn’t the guarantor of the notes therefore meaning they wont be binded to pay any of the $300M. The stock also didn’t change after the shocking news but I guess it can’t change much after already being down 95% from their 52 week high. The stock almost toppled over $30 a share when it was doing good and now it sits at just over a dollar a share. This shows you how volatile stocks are and how careful you need to be when investing in stocks.
Typically avoid finance sector unless you have lots of knowledge on the sector generally I like stocks that are to do with things we need even in time of recession. Things like foods and such are great investments and stocks abroad are becoming more justifiable to look seriously at as competing with US stocks.