They could hold the option to buy 100 million shares for around $150 million. Then when the steel industry recovers their EPS would be $10+.
Crazy most posts and especially toad's were deleted. More proof the hedge funds own and operate yahoo finance, these boards would be completely useless without there also being a few longs adding valuable insight.
thedeathrace is just a pump dumper, he'll bash when he reverses and sells 1000 shares short.
Maybe if they were paying 1 to 1, but it's 55 cents on the dollar - that is a huge investment gain for 2.5 year investment!
Aren't you glad the buyback wasn't wasted at $7 a share, they'll be limited to % of traded shares, but at this value no other investment is more compelling to LG and CLF.
Look at last quarter, execs bought a bunch day 1 and 2 following the conference call. LG will at least double his position here, 600k shares.