The past five days of trading of Genworth MI Canada (TSX: MIC):
The last day’s volatility (remember: volatility means down and up) is relatively unusual for the company. In the 722 trading days preceding this one, the largest volatility was a 7.4% increase in price on November 4, 2011. The largest volatility down was 5.2% down on October 17, 2011. Both of those days were on higher volume than today’s average. Today’s performance (5.61%) was its fifth most volatile day in its trading history.
The market is coming to my idea of fair value much sooner than I was originally thinking. It would be even nicer if Genworth sold it off for $30/share, but I digress.