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AK Steel Holding Corporation Message Board

  • huikh2r huikh2r Nov 12, 2008 3:46 PM Flag

    AKS going to 2?

    I am absolutely appalled. Thought to get some shares today but now decide to wait a bit. I don't understand this. Yes, auto industry is in deep sh*t, but still I think AKS is way oversold. What is going on. Hedge funds redemption?

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    • Ignore the oversold condition. The question is, what kind of sales will they have in the next 12 months? The economy will not rebound from having fallen off a cliff in Sept - Oct. Bottoming at a very low level is all I expect. So don't expect a rebound in auto sales. Indeed, GM, F, and C are toast...their suppliers will put them on a tighter purse string than ever, hastening their inevitable decline into bankruptcy and reorganization. Rising unemployment will cut other stainless steel sales even further. Steel inventory will likely have to be worked down, too. Housing is horribly weak. And the govt hasn't got a clue except to throw money at the situation. I don't see where AKS generates sales going forward, at least nothing large enough to get us into profit territory. The bigger question to me is whether management will use the next year's economic mess to take AKS into bankruptcy to become a much leaner, meaner company. If that happens the stock becomes worthless. But the future may, in an inverse way, become brighter. Last, check for debt maturities. Companies like AKS will have increasing problems rolling over their debt.

    • You will see a quick bounce up if there is a bail out of the auto industry. But near-term, the sentiment is likely to remain negative.

    • Bought in today at $7.95. Will see a nice rebound tomorrow. $2.00 ? You wish !

 
AKS
6.52-0.13(-1.99%)Nov 26 4:00 PMEST

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