Not sure about that entirely. ALB did get downgraded but Tesla made a comment in the Panasonic annoucement about not being able to fund the huge plant without governmental assistance. That might have spooked some analysts regarding the future earnings of ROC and the premium ALB is going to have to pay.
i am new to alb . took position thinking the purchase of roc would be a positive, at least initially i was very wrong. may chase when $ available, and some kind of bottom found.
What the hell happened? I thought the earnings were decent. I think the Panasonic deal with Tesla might have spooked the market on Rockwood. Maybe they think that Panasonic has the size to beat down the margins.
at this price the deal with rockwood should be off - imho - otherwise alb will have to give away alot more of the company to roc shareholders or alot more cash. let's see what happens
I know market is getting hit today but the conference call was not that good - that is why the excessive sell off in ALB. They do not know how to spin this like ROC people can. Just mho.
We've been waiting 5 years for that 5 year plan to drive the price from $70 to $140 - and it ain't there yet!
The decline has been underway for some time. It surprises me, though, how few analysts realized it this year. Go back and read the transcripts of the quarterly calls over the last year and the hand-waving magical thinking is obvious.
Every management team has good people and bad people but ALB kept their bad leadership for too long and that demoralized and sapped and misdirected the company. Too bad. I'm still waiting to see how their final reorganization looks to see whether they cleared out their leadership problems or left some behind.
A problem back when the Gottwalds ran things was that they couldn't tell the good people from the mediocre image-masters and the politicians. So, the leadership was heavy with poor leaders. That weakness became part of the culture at Albemarle. Corporate cultures are resistant to change and their tendencies can last over decades,
Albemarle can come back but that will take time. They do have some good people but the pile of work ahead is large.