My sentiment is that this stock will get hit next week (4/28) since winter season is over and the fertilizer businesses are getting hit hard too (POT, MOS, etc.). I don't see their report next Wednesday being that good. Comments?
I think it goes to about 74 in the next few days, although it will probably bounce around. I'm not sure pre-market plunge will be sustained right away. I think the market looks like it wants to turn higher around after yesterday's fall, so I think there will be some buying. I saw MOS get upgraded this morning to a 'buy' so I'm a little cautious. I see the 2nd layer of support at 65 by the summer. I'm hopping on their earnings call now.
I've been short this thing for quite some time and it's a little troubling that POT has been destroyed going into earnings and CMP has seemed to be building a firm base. Most stocks this season that have run up have been taken down after earnings, regardless of the performance release (however I don't think CMPs will be bad at all). There seems to be a rotation going on, and I agree that folks will look elsewhere due to the warm weather and seasonality that the stock seems to display. The earnings may just be the catalyst (read: excuse) to take profits.