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China Precision Steel, Inc. Message Board

  • gooftrade gooftrade Mar 7, 2012 8:45 PM Flag

    God this was a bad investment.

    Crying over spilled milk. CPSL excuse for poor margins was a shrinking Chinese market. With the carrot of new government stimulas. Followed by Chinese announcement of lower growth rate.

    On the heals of being delisted. By the way 180 day extension is one quarter.

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    • I thought it was a half year or 2 quarters, no

    • I am just stopping in as my mind ran across the status of CPSL. I was vested back in the $6-$8 dollar range dating way back.

      At that time, the CEO had reaped huge profits selling all of his shares. I was convinced then it was a scam and cashed out. The price later plummeted to around $2.

      I do remember all the newbies then declaring what a great company and investment it was. I disagreed. I'm guessing they all lost their behinds on this.

      Nothing has changed. If you think this company cares about it's investors, think again. They already reaped their profits and anything made will always be 'theirs' to keep.

      Just some advice from a long time follower of the company.

    • I told you so.

    • I cant really say it was a bad investment for me. I bought it at 3.75 in April, 2008 and sold it for 7.75 during the following month for a return of over 100%. I was playing it for a spike, like the ones that occured in the past and luckily got it. This was the third spike i saw and you know the old saying, "Three spikes and you are out". Never did buy this stock again, just watching it now.

    • I must agree..thought when I bought a few years ago that it would do very well. Its almost the worst investment I have every made. Will avoid Chinese stocks totally from now on......too much govermental influence.

      • 1 Reply to j2wallin
      • I still beleave in the management of this company and that it now is a good investment. I also agree in the comment on your comment of the reason why the cannot be profitable, however economical growth is measured by GDP and that could not be normally devided. It could therefore be a realistic statement of the management that it is due to the down turn. The problem now is that the product portfolio is not balanced anough balanced to weather the current downturn in demand. Management more or less said this by focussing on there development of new markets and introducing new products. Further the are in a competitive steel market whith OVER CAPACITY! Now is the time to invest, reason is the are cheap and have there specific oppertunities like growth and even market consolidation (a take over). Dont worry about the price with low volume!

    • I couldn't agree more. Worst stock pick of my entire life. No need to sell now. I'd get back 5 cents on the dollar. Think I'll save the capital loss to offset my winnings when I hit the Mega Millions jackpot. I have the same probability as cpsl has of turning into a great company, one in 175,711,536.

      • 2 Replies to bitedabag
      • Kind of a side topic, but you can argue that lottery winnings shouldn't be taxed because you had to pay to the state to participate, so basically it amounts to: give money to the state (to participate), if you win they give you a portion of the total amount (as you won, with other individual's state paid contributions), and after they give it to you, then finally they ask that you give some of it back (as taxes); they are basically double dipping, just like with unemployment payments. you paid money to the state, they state pays that money out as unemployment, then they ask for that some money back that they gave you in the form of taxes; again double dipping.

      • The whole bull crap about out giving this one enuf time to recoever has basically been nullified...Its got a mind of its own..oh wait, it has no mind...Not this Chinese bull crap outfit.

        One can only hold on to the glimmer of hope for so long and this one is frankly despicable.

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