Tradesoxx, I often give a like to your comments and will continue to do so. For those of us who approach investing with our eyes wide open, taking a few bucks off the table requires no explanation. For those who simply buy with emotion...no explanation is sufficient. Any stock under $5 is a risky play and to make ALU 10% of your portfolio still shows you recognize the company's potential.
Execution will be the ultimate decider on whether we win or lose. I still think ALU is worth holding on to and in some cases adding to. Good Luck!
Taking a little money off the table is not a bad decision considering it was 27% of your portfolio. You still hold a 10% stake so like me you want to see a positive outcome. I get it even if some others don't. Good Luck!
Speak for yourself. Unions workers will make ALU bankrupt as the did GM & Chrysler and there is no Obama bailout for us. Combs must cut as many as he can and then when he is done, cut some more. A lean, mean ALU will finally deliver shareholder value and a successful sustainable company.
I would think North of 15 billion but I don't know how they would do that with a $1.50 share price and 2.3 B outstanding shares. Any thoughts?
Did you ever hear of somebody taking out a home equity line of credit and not using it? I did and it happens all the time. All it does is give you some options in the event of unforeseen circumstances. "IF" the cost cutting does not go as planned then the option would be available. Hopefully, that will not be the case.
I don't have a problem picking up some more shares if that is what happens.
You're a little late to that party. ALU is up more than 70% from its lows. For those of us who never rode the short bus to school we know that is NOT how a stock reacts when on it's way to BK. We are headed much higher!
Combes will still need the socialist board to give their stamp of approval. I think they want the cuts to be with a scalpel and not a chainsaw. We probably need something in between.