Follow Up on Amrep

One of the first Credit Bubble Stocks posts was about Amrep, the New Mexico land developer. At that time, we observed that the fundamentals were not looking good for land in Rio Rancho.

There was an incredible parabolic blow-off in the Amrep share price at the beginning of 2007. Just now, I was blown away by the collapse in the price since then. It has traced out a classic parabolic bubble and collapse.