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China Armco Metals, Inc. Common Message Board

  • alw400 alw400 May 1, 2010 7:18 PM Flag

    Is there anything positive about CNAM?

    Is this stock dead? I've been hammered hard on this stock and bought into all the hype and paid top dollar when i jumped in!! Is there anything positive about the company that will turn this price in the other direction?? Thanks, GLTA

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    • Basically you chased a momentum play, got trapped, losing money, and now you're trying to find out if the company is even investable? Pathetic

    • There are many positives right now. First is the price you can buy at today. I am also down, but I really think this will be one of the best stocks for this year and next. I have read through the sec filing back to 2005. It is very informative and helpful to understand. Here is the negatives...stock weakness and not holding gains...period. due to several factors. There were many shareholders that bought in the 1-2-3 dollar range just a year ago. Also, warrants were issued at 3.00 and 1.2 million shares were given to CDII at 0.00 for services on a deal. So far they sold 300K shares around the 3.00 range according to the 3rd qr of last year. So I am very sure when the stock moved up after the uplisting they have been selling into strength..And this is ok, they deserve to get paid and to make profits. It will show up on the next qr balance sheet, so expect to see 6-8 million in gains on CDII statement... There is nothing wrong with any of this..when sold a new buyer steps in..US..and profits will come to us as well..
      Here's the good news, stock is cheap..and will move back up quick with any news due to the small float. The co now has 21 million more in cash, the scrap plant paid for and now is in production, the co forecasted 220 million in rev for this year, its already may now, and projected 12 million in net profits. They only have 56 employees, I'm sure added for the scrap plant, but they are very efficient on the SGA side. The CEO only gets paid 77,000 per yr and those below much less..The commodity end of the business too can be as large or larger than the steel part..We will see some announcements soon on sales, and production...then it's take off..The plant just starting can bring in 400 million per yr and can be expanded..The supply value of the mag allotment is also worth 160 million when sold... To be short a stock like this is risky, they could easily be taken over too due to such a cheap market cap.. this stock will be going to 20 then higher...it is a wall st story stock with a good symbol..CNAM !! Good luck longs...monday might be the last good buy day...

    • Well on the charts this is way oversold, the PE is just over 10 now thats very low, there is also a very low float that is why this trades to extremes, when this reverses watch out

      • 1 Reply to techunter1476
      • Every one keeps saying that the fact of a low float causes extremes, I totally disagree that that has any effect on the large drop in price on the down side, it is true for a move up, but if there are few people who sell with reasonable demand, 300 to 700 thousand or more each day, that should keep the price from dropping, not the other way around.

    • <<< Is there anything positive about the company that will turn this price in the other direction?? >>>

      No future growth, they said they would lose $1.25 EPS this year and go bankrupt next year.

      Good luck!