He could though buy 100,000 shares today, right now, at market, and that would do a world of good immediately to turn this thing. But he seemingly has left that out of his equation of what he can and can't do. Why shouldn't he buy, as he has been touting the turnaround hard but to no avail in the price. Therefore he sees it as very undervalued, right? It's not a good sign that insiders have only made a few token purchases with this thing at historic lows. disappointing.
Alienated just about every last analyst. They have decided not to lift a finger in support of his work, after his massive dissing of certain skeptics from their community. He ought not have behaved so childishly. Look for the historic decline to continue as the analyst community steps aside from this falling knife. It's too bad he scotched it so badly on that front, because he has otherwise performed decently so far it seems in the restructuring of this listing behemoth. But protecting shareholder value also means managing Street relations and he's failed at that so far.
Bloom Lake – in northeastern Quebec – is “the cancer that we have to take out” as Cliffs retrenches to focus on its U.S. iron ore business, Mr. Goncalves said in a telephone interview Tuesday.
The company said in November that it was “pursuing exit options” for its Eastern Canada iron ore operations, estimating its maximum exposure to close the Bloom Lake site at between $650-million (U.S.) and $700-million.
“We were going through chemotherapy and that didn’t do it. Now the [cancerous] limb has been cut off,” Mr. Goncalves said in the interview.
I believe you had to have owned it on last Friday. Sellers today still will receive the dividend. It's funny that it dived on Friday but ran today.
That's their fault. There were plenty bargain hunters today getting positions - buying, that is. Maybe too early but stil....
As to your scenario, people tomorrow will be buying those foolish limit order shares of today that get dumped at market.
Thx for clearing that up. Nobody bought those shares. Gotcha.
Plenty of folks piled out with losses but 69 million shares at 11 dollar and change shares are now freshly held in new homes. Its a shame for the former bagholders but we are interested in what goes forward.
Creamer was yelling with spittle flying this morning that nobody shops at Staples any more. I wonder where that Q4 5.9 billion in sales came from then? Later in the morning one of his seconds at the scamdotcom wrote that SPLS was on the verge of death. One can just day SPLS missed expectations without going totally off the deep end a making crazy comments. Jim Cramer isn't known as Krusty the klown Kramer for nothing....
I think it could drift up, if the market continues up, toward 12 or so in the next 6 weeks. The dark aura around it will cap any larger rallies. Its not like SPLS will have any good news though in that time frame or even for the next 3 months. Even then the dim outlook won't brighten. Your 6 month frame is a better guess imo. At least the bad news was gotten out now.
That maybe qualifies as prudent. Smart? He held on to 230K shares. Try not and resent him for cashing out 5% at what he himself called an explosion in the price. In fact, he'd be a total dummy if he hadn't sold some. He's still probably kicking himself for not having sold half his holdinhs. Meanwhile, the guy is working hard to salvage this Zollars fiasco, so he wasn't busy thinking, "sell out".
Hope you fully shorted to zero goal my friend. But you're way too early for a BK announcement. Nice theory though.
Stick with it (what other choice?) very bad level and sentiment now. But YRCW has bullets left and big runs entirely not out of the question going forward as the new bottom's made. jmho
Sad to hear. But why and how could you have put yourself in a total risk/reward bet on an earnings call in this stock especially? if your being genuine that is.