Impac Mortgage Holdings Inc. (OTC:IMPM) Stock Gains Momentum: But Why?
As another trading week begins, Impac Mortgage Holdings Inc. (OTC:IMPM) could be on the radars of investors once again after the company’s stock clocked gains of 13% last Friday.
Key Events
This past Friday, the company was in the news cycle after it came up with a couple of key updates. One of those was about a previously announced litigation issue, and the other was about a revolving credit facility waiver.
A lawsuit had been initiated against Impac Mortgage Holdings and associated parties by UBS Americas Inc. and other parties in 2021. In the lawsuit, it was alleged that the plaintiff had sold loan-related securities to UBS Securities in breach of warranties and contractual representations. On October 13, all the claims were dismissed by the New York Court. Impac Mortgage stated that if the plaintiff filed an amended complaint, then the company would defend itself again.
Credit Facility Waiver Update
The company also revealed that it had recently requested and been awarded by its lenders the waivers of some quarterly consolidated EBITDA and revenue financial covenants under the conditions of its credit facility. In light of the announcements, there was considerable interest in the stock, and it now remains to be seen if Impac Mortgage Holdings continues to be on the radars of investors this week.
Technicals
| +/- EMA(20) | 0.0355 (-1.41%) |
| +/- SMA(50) | 0.0434 (-19.35%) |
| +/- SMA(200) | 0.0295 (+18.64%) |
| 5-Day Perf. | +1.74% |
| 1-Month Perf. | -14.43% |
| 3-Month Perf. | +41.13% |
| 6-Month Perf. | +20.69% |
| YTD Perf. | +32.08% |
| 1-Year Perf. | -32.3% |
| RSI(14) | 48.19 |
| ATR(14) | 0.01 |
| ADX(14) | 8.86 |
| Beta (5Y) | 0.43 |
