By: catweazle lazy guy 💬 2
Dec 24, 2022
$BRMK This stock has been taken to the woodshed. It's down almost 60% YTD, and even as other mortgage REITS like $AGNC or $NLY have been making up ground (see here) $BRMK kept falling. One obvious reason for the recent underperformance is the departure of the CFO in October, who was followed three weeks later by the CEO.
But now, after 7 (!) consecutive down weeks, $BRMK managed to stay in the green during the week that just ended. The $SPY, on the other hand, is now down 3 weeks in a row during a time of the year that's normally good for a little holiday cheer. So, absent any surprises, I could see bears taking a break next week and that could be a good backdrop for $BRMK to continue to outperform. So,I am long for a swing.
BRMK - Broadmark Realty Capital Inc 22.7% since post
SPY 4.8% since post
AGNC - AGNC Investment Corp. -7.1% since post
NLY - Annaly Capital Management, Inc -14.19% since post
Member since: 2022-08-18
This person is pretty lazy