My lord. I didn't realize how bad the dilution was.In May US Steel sold 27 million shares at $25.50. And the big bogie an $862 million share convertible at $31.875/share. So thats another 27 million shares.So thats 54 million share increase from the previous 117 million outstanding. A stunning 46%!
Buy Nucor instead, much better value!
You really have to question management's competence for diluting shareholders like that. They could of waited a few months and gotten terms 100% better.
Management has no clue. They $1.4 billion in stock down there>>!!!Either management complete morons. Or there really is no hope for the industry and stock going back down toward that level.Either way, this stock is a loser.
So $56/share is already like the old $81.85/share. But they did raise $1.3 billion, which is about $7.60/share.
The annalist says that x will loose 10.00 for the yr. So why is x going crazy?????? hell im going short monday.