Good question, and I see they just did a private placement which imho is never good for shareholders. Wish I had seen that before I bought. Probably undervalued but if they keep doing pipes to fund themselves we will get diluted to zero.
A year of so ago a financial blogging site had to admit one of the bloggers was being paid to pump stocks.
So I would keep that in mind as far as this stock goes since only one web site seems to be covering it.
otherwise the stock price seems to be solely betting on the activist investor eventually winning out, but if you look at how this was priced before he got into the name valuation is right about there.
Its an interesting story but I think the high numbers being thrown around are pretty optimistic.
well my point is the folks were necessary until this merger was crammed down their throat.
Now these people have their lively hood ruined so some sleazy private equity guys and add a few gold coins to their hoard. I mean had these firms been in trouble before hand then I would get it, but this is all about improving margins to pump up shares. Its disgusting!
I am with you these dirt bags destroy lives were ever they touch down. I for one am sick of buffett getting a free pass for all the lives he has ruined, dexter mill berkshire mills and now this place.
because the #$%$ at 3g capital only cares about pumping up margins, not workers
yup dirtbags at 3g and the #$%$ at brk, took 2 healthy profitable businesses and are gutting them just to pump up margins. nice
considering its selling at fairly large discount to book, i don't see how dilution is not already priced in? any how metalico was bought out by a chinese company and it was a much bigger train wreck then this, so I am going to hang on maybe add if it gets to 1.5.
x and mt are below 2008 levels, x is down to something like 20 yr lows. A few holding up better like nue but imho the whole sector is wildly oversold. this could see 2's and mt could touch 1 but on flip side they are all 2-5x baggers when they turn. some more then that.
in the u.s. corporations will often use bankruptcy just to break contracts, has nothing to do with the financial shape of the company. american had 4 billion cash when they filed.