Its been a $40 trader for the past 18 months. Accumulate under $40and distribute over $40. That's been my trade on POT for quite a while. The big difference we're seeing now is surging free cash flows and a dividend not far from 4%. For this wide moat fert king, the improvements for shareholders has not been reflected at all in the stock price - its just another cheap mining stock. I think the share price at some point over the next year will start reflecting the improved fundamentals. Give me close to 4% to wait and I'm going to stop trading it and park on it in the thirties this time.
POT has ruined many a portfolios! You are not alone.
There is too much supply of it. Although it has come down from 37% to about 22-25% in the last 4 months over the 5-year average supply...that is still not good news. Furthermore, there is just no demand for it! Forget all the jargon about 6 billion people needing to eat, farmers gotta use fertilizer to increase yield, gotta think long term, and and so on. Yeah we all gotta eat, but not potash. POT is a badly managed company as is evident in its stock price and the Canadian gov't put the breaks on any premiums for a take over a couple of years ago. With so many other stocks out there, why risk your money on a non-performer like POT. The dividend going from $0.07 to $0.28 isn't gonna do it either!
For the foreseeable future and until a catalyst is found, POT does not have the fundamentals to move on its own. It is currently being manipulated by money / hedge fund mangers. As impossible as it is to time the market, and if you absolutely, positively want to get into POT, try to get in around $37.50 +/- $0.25, and get out around $43.50 +/- $0.25.
Me too. $20k and falling. It seems to drop 2% every day. We have only had one decent day in the last few weeks. I have rode this for over a year and I'm tired of this relentless selling, especially by the CEO. He has sold 370,000"shares in the last week.