Pink is NovaStar's Favorite Color

Troubled subprime lender and naked shorting poster child NovaStar financial began trading on the pink sheets today, having been kicked off the New York Stock Exchange.

It now has the PK appellation so beloved of stocks that have fallen into the crapper.

So how will NovaStar celebrate this blessed event? I think another reverse split would do nicely, now that the company is a penny stock.

At last look, NovaStar shares had fallen 28% to 1.35, in celebration of the glad tidings.

© 2007 Gary Weiss. All rights reserved.