Prepared by Chris, CEO Quad 7 Capital and lead analyst at team BAD BEAT Investing
Chimera Investment Corporation (NYSE:CIM) remains a holding in my long-term dividend reinvestment income portfolios, but it’s also a name that can be traded on the swings. We have been telling members that this name is a stock to buy on any meaningful pullback. Well, friends, with the stock nearing the $8 mark, that time has come. I have mentioned this before, but back in February, I detailed why I sold half the position and was letting the house’s money run, and our team highlighted it as a pick in March when mREITs were getting obliterated. We have been following this company and the portfolio very closely for quite some time. This year of course the stock and portfolio holdings were decimated.
The prior quarter which was rocked by COVID was a complete disaster, and huge