They do a secondary on Jan 10th for 104 million shares at $16.75 and apparently sell out and about three months later this thing cannot hold water and smells like rotten fish! Unbelieveable! My avg cost is only $13.06, but if I was one who bought those shares at $16.75 after it ran up a month or so before the offering I would be throwing my shoes and fish at the underwriters! CTR
I agree. I thought it would tank back then, when they diluted the stock. It seems someone, possibly artificially, inflated the stock price right up to $17.99 and then opened the floodgates. I used to won Alcoa and MT was just over two times the price of Alcoa. Now it is 1.5 times the price of a deflated Alcoa. Looks like MT is a worse company than AA. MT needs to make progress cleaning balance sheet, and we hear nothing lately.