I cant really see them getting that bad off but this is low for this stock real low....8billion is still a big chunk of change..For now I think they`ll survive...
Oct 1 2001 it was .70 yikes..and @ 2and 3 dolllars ..I wonder?? Probably wished I picked some up today but I`m strapped for cash...Keep an eye on this one..
long live MT the king of steel
@PITTSBURGH, Nov. 23, 2015 /PRNewswire/ -- United States Steel Corporation (NYSE:X) announced today it will temporarily idle its Granite City Works steelmaking and finishing operations in Granite City, Ill. As the primary flat-roll supplier of the oil and gas industry, the idling is part of an on-going adjustment of steelmaking operations throughout North America to match customer demand.
Wow have they ever split reverse or forward... I may buy a thousand shares soon just to hold in case we turn around at some point....This may get worse before it gets better.IMO
Btw, the conditions in 2001 are similar to that today. It took a few years to truly recover - anticipate the same here. I don't think it is a bad idea to slowly accumulate if one has a long time horizon but I wouldn't be surprised if we see a significant drop before any increase.
Amazingly, I have held through that and through the $100 peak - did not buy or sell at either. With a cost basis of 2.7 or so, still doing okay in some sense (especially given the dividends) but obviously I need to learn to take some profits. :)
FBEC looks interesting here. They make hemp energy shots like five hour energy. With cannabis and related products being the big thing FBEC could carve out a nice market. Keep this one on watch.