Their financial results just get worse and worse as time goes on with no end in sight. This is a bad business model and the balance sheet has questionable assets at best. Glad I got out in the low 4's as this thing is headed for disaster.
If debt was management's first priority and they are working day and night to avoid it, why is debt increasing?
So glad I got out of this turkey at 4.12 and took the big loss. This will go private soon and shareholders will all lose. What a mess of a company.
Just goes to show that when insiders buy, it doesn't mean you should follow them blindly or think the stock is undervalued. They can't predict the future, neither can we. It gives the press something to talk about but it really does not mean anything in the grand scheme.
You are short a stock and you don't even know the fundamentals of the short position? You are asking to get your face ripped off, or you are lying.
Insiders are getting destroyed just like the rest of us. Let it be a lesson. When insiders buy their own stock, ignore it! I have seen far too many insiders buy stock and get absolutely crushed. Not just AKS.
FCX has nothing to do with iron ore. They are a copper, gold, molybdenum, oil, and natural gas company. Try again.
Why would you short a sector that is below its 52 week lows? Doesn't that just set you up for a short squeeze? By the way, for all those that say Wainscott is a #$%$ and all the other bs, take a look at the steel sector, not just AKS. I suppose every CEO of every steel company is a #$%$, because they are all trading at or near 52 week lows. The steel industry is being torn apart by cheap imports and falling global commodity prices including oil. I fail to see how these issues can be blamed on someone who happens to be running the company.
Are you assuming that the overall market doesn't pullback? If it does, I think we are looking at another 5-10% of downside. I think it is a little risky to be jumping in and buying more here. I want to see it move to 39 and hold above that for a week or two before I feel a little better.
So what's your point? Low market cap, highly cyclical industry, high beta, negative EPS. Of course it's volatile.