SQM reported net income for the first half of 2011 of US$243.6 million, an increase of 34.2% over the first half of 2010. Earnings per ADR totaled US$0.93 for the first six months, compared to US$0.69 for the same period of 2010. Revenues for first half of 2011 were 19.2% higher than that of first half of 2010.
So, could this just be because of the Greece? Or maybe because analysts predicted .52 per share and they did .50? I don't know but I wish I had more money in my IRA available because I'd love to buy at this price. An article came out a little while ago saying that shares were potentially overvalued and then a week later another article said they were potentially undervalued because they dropped off so much. I hold other stocks in materials and chemicals and they are all down with huge upsides. Patience. I don't think anyone has "lost" their profits in SQM unless they sell. This is a favorite company of mine. Super sharp.
I think has more to do with an unexpected rise in inflation in Brazil corresponding with larger than expected interest rate cuts and fears that all this spreads to neighboring countries in South America.