For a great stock with good growth and superior management, it is sure strange that it goes down every day no matter what is happening. I am beginning to wonder whether the stock will stop when it hits $90.
Great job Jana! Ever since your blue team started the Agrium civil war, AGU's stock has fallen. I thought Jana was supposed to unleash Agrium's true potential. The only thing unleashed has been stockholder's lack of trust. So today I sold 1/2 of my shares. True, I am only a small shareholder, but I think all of AGU shareholders - both small and large are getting quite worried about when the stock will hit bottom. Abbaman7 is a very savvy investor in this space and even he is concerned. The Agrium shareholder's meeting had better hire lots of security. Things might get ugly.
Things are already getting much uglier than I ever imagined when now it has been revealed that Agrium is using our money to pay brokers and investment advisers C$.25 per share for every share of AGU stock held by a Canadian retail investor which they can cause to constitute a vote for AGU's board nominees. In the U.S., the SEC would be contacting them. Imagine that! A vote buying strategy. Talk about desperation. I assume this is legal in Canada but even so, it stinks. The very people they are asking to shill for them are supposed to be providing independent recommendations to their clients; they are not supposed to be bag men for management of any company.
I believe that management's latest effort to buy the upcoming election will backfire in their face. In fact, I am starting to think that JANA now might actually pull this one out. Indeed, if this thing were so in the bag for management, then why stoop to something this low? This company has great potential if run properly and for the benefit of the shareholders. That management is attempting to subvert the very process they set in motion when they accelerated the vote precisely in order to give JANA less time to prepare their side of the story, tells me a lot about why I am glad I voted 'BLUE' instead of 'WHITE.'
I continue to believe that AGU's current stock price correction was a direct rebuke to those currently running the show. Broken companies usually remain broken but broken stocks often come back, especially when they are fundamentally sound, which is the category in which I place Agrium.
I have a significant stake in Agrium and have been a shareholder of the company since 2007. In all this time, I have never sold a share and have no intention of selling any now. Once we get past the election hoopla, market sentiment towards AGU will likely change, especially if analysts continue to show confidence in the company's long term prospects and the likelihood of a solid agricultural year.