Time to Short JOE Stock

[Matt J]

People have been screaming short on JOE for years, yet it seems to maintain it's position.

 

[Seaducer]

People have been screaming short on JOE for years, yet it seems to maintain it's position.

which is why the shorts are panicking as you can plainly see.

 

[Matt J]

I'm wondering how much time you have if you shorted it at $1 back in 2006? LOL

 

[coondog]

which is why the shorts are panicking as you can plainly see.

Since short positions have increased by 24% over the past year as of July 15, 2014 to their highest level ever, it really doesn't sound like they are panicking. Their operating results are what they are, not compelling, with a declining asset base, and their best land long gone.

 

[Abby Prentiss]

Joe seems to be making some serious transitions. Heard they want to buy Rosemary Beach holdings.

 

[coondog]

Joe seems to be making some serious transitions. Heard they want to buy Rosemary Beach holdings.

They have plenty of cash on the balance sheet to do this, and it is one way to increase their declining operating revenues.

 

[Matt J]

I think the west bay sector plan will help to maintain their position, especially if they go developer/builder route they've done in the past.

 

[coondog]

Park Brady out, effective immediately, as JOE CEO.

 

[Matt J]

http://ir.joe.com/releasedetail.cfm?ReleaseID=866273

The actual announcement above.

 

[BeachRob]

What I said was "I agree with the analysis", which was published prior to their earnings release, after which their stock dropped significantly. If you can read an income statement, and carve out one-time items, such as bulk sales of land, and look at their historical inability to a) generate profits on an operating income basis, and b) inability to execute on numerous business plans (see their 10-K's, 10-Q's and assorted press releases over the past 4 years announcing a change in strategy), and it paints a pretty compelling picture.

Coondog is correct. Everything else is just noise. You have to make profits. Trading land for cash is not profit. And increasing the book (accounting) values of the land is also not an operating profit. You have to make and sell something, or sell a service. The way I see it, JOE really isn't a going business concern; it is rather a sophisticated divestment structure.

Park Brady out, effective immediately, as JOE CEO.

wow.