it took a few days ....but the dead cat bounce has shown up today ....decent percent bounce but nothing more than dead-cat ..... there is nothing about MCP which can be considered meaningful good news, and a huge amount of negatives. The longs have about 30 days to get out before the next Qtrly report will tank this stock once again, unless bad news from the SEC investigation happens to come out between now and Feb 18th. MCP's business and pricing are much worse and getting worse with each passing week. Also MCP's debt is going to crush it !
Jeff if you were to buy, what price would it be? $5 sounds good if the news is terrible with SEC fines. In the long run (1 - 2 years out) if they expel all poor management and found a boy-out suitor, this company has potential as America needs an in-house solution to raw manufacturing materials.
Your serious sober thoughts?
the best way I can reply is there will be a "CLOSED" sign at the entrance of both the MT Pass mine and the company headquarters, just a matter of how soon.
Additionally, the Qtrly report will be announced at approx the same time as the DISGRACEFUL clowns in Wash DC will be playing politics with the American's citizens future; ignoring their responsibility to help the entire country ...not just their local constituents, and more importantly their own personal politcal careers.
We are a bankrupt nation ( unfortunately) with Trillions and trillions in deficits and even MORE Trillions in unfunded liabilities for our aging population. So as Wash DC tanks the markets ....MCP will announce ( supposedly on Monday 2 /18 ) and the two negative news stories will drop MCP lower and lower, of course some of this is already priced in with the panic selling of a week ago when 40 million shares traded in 6 hours, but not all of it is priced in ....wait and see ....Mr Market will not like the "numbers" from MCP on Feb 18th.
We are only $ 3 away from the ALL TIME LOW of $5.75 and we are $65 away from the ALL TIME high of $ 74 .... The odds of a new all time low far far far outweigh the chance of a huge spike up and far far far outweigh the odds of a buyout.
Gary - the best thing you can do is stay far far away from MCP shares, and if you already own them (Long ) then dump them ASAP before your loss gets worse.