5399: The government wants to close ITT as well as thousands of former and current students who got screwed by this fraud. If you work for ITT please know that Modany, Gene, Barry and the rest of the executives don't care much about you or any other employees or students.
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@Anonymous105399, a short squeze is not "financial mumbo jumbo." Modany and Fitpatrick's last press conference was mumbo jumbo, or more accurately another con job............................. https://www.linkedin.com/pulse/itt-techesi-faces-monumental-troubles-dahn-shaulis?trk=mp-author-card
Google "Short squeeze", it's a financial mumbo jumbo, nothing material changed, the gov wants us closed. Period.
Soon enough we will stop talking about the ITT stock. The ITT diploma mill will not be around for too long.
The ESI "turnaround" was more like a card trick. Have you ever played 3-card monte?
http://seekingalpha.com/article/3230586-itt-educational-services-esi-ceo-kevin-modany-on-q4-2014-results-earnings-call-transcript?page=1
Transcript of earnings call from earlier today. Sure do spend a lot on legal fees...
There was no $56M turnaround.
Short squeeze that was preceded by good news that ESI made a $56M turnaround. Temporary sutaution. ITT Tech is in major financial and legal trouble......https://www.linkedin.com/pulse/itt-techesi-faces-monumental-troubles-dahn-shaulis?trk=mp-author-card
Probably a lot of shorts needed to cover thus the spike on Friday/Monday. No sign of it wanting to be anything other than a diploma mill though given that the management hasn't changed, so caveat emptor still applies!