-28% on a decent quarter was straight out ridiculous today. Most of the selling was done in the last hour of trading. Downside move appears way irrational and I will be buying BKS tomorrow and riding it for an easy 10% pop.
Overreaction today on EMN lawsuit. Market ripped RYAM on the worst case scenario of a complete EMN business loss. But the most probably outcome will be either 1) courts uphold the contract and business goes back as usual or 2) EMN is able to lower tonage costs down just a bit.
In either case, RYAM should be at $10 considering the risks on the lawsuit and not 7. I am backing up the truck tomorrow and initiating my long position.
Ever since HMSY has stated they are losing the NJ contract (~10% of their 2015 revenue), the stock has tanked -45%. To me this is a little absurd. I am loading up tomorrow and buying at the open and on any weakness.