Just last night on stockspotter I received a signal to exit a long position in St. Joe Company (JOE). This trade earned -.11 after being active for only 1 day. After doing some research I’d also recommend exiting any long positions that you may still have.
The Florida land developer has been dropping since early February, when it double topped at $30. It gradually slid lower into the spring and fell every session but two last during the month of May.
St. Joe Company has been losing money for years as it writes down the value of its real estate. Nonetheless, the company doesn’t seem to have a significant debt load, which could prevent it from entering the kind of death-spiral that short sellers hope for.
Additional Company Info: The St. Joe Company, together with its subsidiaries, operates as a real estate development company in Florida. The company operates in four segments: Residential Real Estate, Commercial Real Estate, Rural Land Sales, and Forestry. The Residential Real Estate segment develops mixed-use resort, and seasonal and primary residential communities. It also focuses on selling undeveloped land to third-party developers or investors.