This post has been de-listed
It is no longer included in search results and normal feeds (front page, hot posts, subreddit posts, etc). It remains visible only via the author's post history.
They just acquired a rival National General Holdings for $4bill (2bill in cash). Obviously they have big dick money to swing around.
Stock currently sitting at $88 with strong historical support at that level.
Less cars on the road due to covid and even less as we shift to a work remote world.
The CFO literally said "To date, the pandemic had a modest impact on Allstate and the auto-insurance industry”.
Investors are being little bitches and complaining that they didn't use it for stock buy back and that's why it's dipping. Allstate didn't say that buy backs are off the table, so it can still happen.
The average price target amongst analysts is $118
Positions:
21 Aug calls, any strike you can afford below $110
16 Oct 115/120FDs
I'm personally going ATM with 10/16 90cs cause those shits are at $5 and were worth $10 only 2 days ago
Subreddit
Post Details
- Posted
- 4 years ago
- Reddit URL
- View post on reddit.com
- External URL
- reddit.com/r/wallstreetb...