The coal business is very bad guys. Turnaround is not in sight. Natural gas crashed today. Not good for the thermal coal business. Wold Peter is just smarter than those of us who hang on to coal shares. Another bad year coming up for coal.
One of the really big brokerage houses has set $3 as a price target for ACI. We will surely get there.
The coal business is in a downcycle, you had to have been living under a rock the past couple of years to not know that. It is bottoming and the turnaround has already started with PRB pricing and diminishing stockpiles.
Wold Peters resigned and liquidated his shares. It has nothing to do with being smarter than anyone....he didn't have a choice.
Natural Gas did not crash today. It is up about 30% over the past 2 months so today was merely some profit taking and a normal 4% correction.
And if the firm you are referring to with the $3 price target is Goldman Sachs? All that says to me is 2014 is going to be a great year for ACI!