Don't confuse stating facts with bashing. Check my posts about the losses; there are more to come.
The CEO was sucked into the new Govt hype and GNP growth and promise of awards.It is exaggerated due to mortgage cost of distorted house prices.
She needs to be replaced.
The current loan loss due to defaults is the worst in 11 years. t is not over, there is more to come.
This is a result of pandering to request of the Politicians to lend their benefactors large sums against inflated assets. They lure the CEO and Mangers into believing they are serving the nation and have been placed on the list for the nations highest awards on their National day in Jan.
Just back from the East. The Chinese are going to dominate this field in 2 years with their new sequencer that is automated. They have the manpower and resources.
Our 2 US Cos will survive as minor global players because of the pricing and customer loyalty. That may be the reason for the short position showing little change even at this price level.
The art of shorting by Hedge Funds is based on sophisticated probability distribution and not inside info. That is why the Technical analysis are important when you are unable to discern rational logic.
My F.A advised me to quit as Hedge Funds had been short . She believes we are headed to $130 or lower to enable the Hedge Funds to close out.
This has been the pattern on 3 separate occasions in 2015.
My FA says its best to stay on side lines Creditors and shareholders might strip the Co bare in the coming months. The NAV is near -ve and the Creditors want an independent audit by an outside firm to determine the NAV.
I am now resigned to the fact we were taken for a greed ride.
The performance of the Banking sector and especially Public Banks and the Utility sector for the Quarter ending March is expected to be trail the rest of the other sectors.
IBN loan defaults are likely to grow but more slowly than before & GAP earnings could be flat to down due to default loans.
Growth is inflated due to inclusion of House prices/Mortgages and the cost thereof .The actual industrial growth is more like 2% net or less.
They overpaid for their new aquistion. The seller did not disclose that his principal Buyer was opting out of buying any product in the next Q. In brief, on a Price to Sales ratio, it was an overextended acquisition.
They are in the process of offering better terms to that Buyer in order to get him on board. The results are still awaited but if it comes, it will be at a discounted price. That will affect earnings marginally.
I would be buyer after they announce the results of their pow wow.
Nice of you to alert the public of your analysis.The Hedge Fund Managers troll the web for shrewd and experienced Investors like you who are willing to help.
Making amends for their ego and Greed. They overpaid 200% for their acquistions goaded by Wall St. who stroked their egos as the Miracle boys of India.
Now they and their shareholders are paying the price. The plants are worthless due to the intrinsic clean up cost which are not accounted for. Gaap accounting does not price in future clean up cost which all Govts now impose at time of sale/liquidation.Steel is a dirty commodity.
In brief this now a penny stock for day traders who want to make ten cents.
MT faces a huge clean up Bill at each of it Plants it would like to close.
They have over the years played footsie with local Govt to avoid closing plants which will put their workers on welfare.In return the Govts have not enforced any clean technology resolutions or fines.
With the world glut in Steel (35%) overcapcity, prices will not recover till after 2025 at the earliest. MT cannot survive till then.
REmodulin sales have leveled off and can only spike up if they can get Medtronis pump approval by end Oct.
Meanwhile sales will be flat and that's why PVT Hedge Funds are short.