Once the Brazilians nationalize Cat's plants it will lead to a domino effect.
Only naive people believe this info was just learned and not held back so those in the know had time to short this or close out positions over the past month or so.
And yes I see this happen all the time Ritchie. It's real capitalism, not theoretical playing by the rules kind.
I will definitely be dumping my 10k shares on Tuesday.
Get your short in early because we will probably see something like down 3 - 5 early but closing down less than 2 and then the people who assume the stock falls further wed. get surprised when Cat gets back most of what they lost Tuesday !
I hope to see Bargain prices at close but probably its not going to happen !
Let's sit back and watch how Richon, singlehandedly, holds up this falling knife tomorrow when the market reopens. We'll see how bold he is tomorrow when CAT opens down $10. I have to give him credit, he's doing his best to minimize this fraud.
This accounting fraud is bad IMHO. What's worse is the commentary from the Board and it's audit committee that they failed to properly diligence the acquisition. That is simply gross negligence for a fiduciary and steward of our assets.