I was recently looking up CD rates and found that IndyMac (IMB) currently offers an attractive 1 yr CD. I looked up the price of their stock and noticed that it has sold off 50% in the last few weeks. The yield is now 9% with a P/E ratio of 5.3.Consensus recommendation is a .75 on a scale of 1-5 on buy vs. sell. In other words, it is a strong buy recommendation.They have been stung as many lenders have with the subprime market but other than that, what am I missing here?The CD is FDIC insured but the stock could of course go to zero.
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