S&P downgraded MG's credit rating from B to B-. They cited lack of political and Olympics revenue for possible default in late 2011 or 2012. That should put pressure on the stock in the near term.
May be getting close to a another trading opportunity. I always make money trading this stock, but I usually buy in too soon. I think I will wait a little longer to get a lower price. Any comments?
I guess the question is will we retest the Nov 30 closing low of $4.26 and the intraday of $4.18. That could be a great trading price. Hold until just over $5.00 for a 20% profit. Sell at $6.00 for a 40% profit.
Getting closer but I think this stock can be bought again in the 4's. I think I'll wait for that to buy back in.
I bought today but not as a trade...it's cheap.
Has anyone else noticed about a years worth of topic is missing. Most of these dated this year are over a year old or more.