Exactly. Only a few posters think there is nothing to worry about but enough people on WS do worry and have taken Clf out and left for dead.
Most contracts have clauses with provisions like this when there are dramatic changes to something (in this case IO pricing). In some cases it is cheaper to pay any penalties than continue with the contract.
I do not think IO prices will drop to 47 or so, but if they do you can bet that will happen.
The contracts tha Clf currently has can and will change. Simply look at the oil sector drillers. All the contracts that they had are being renegotiated or cancelled now with the depressed oil prices. You can bet the same happens to Clf with depressed IO prices, and this fundamentally alters a lot for Clf going forward.
I blasted Surf last week with a post and his reply was not to play with me anymore. He holds a view and if you disagree, you are an idiot who supplies no facts. Only fact is a SP at $3 and dropping on very large volumes. There is little value to debating him any more.
orders by more than 2:1 selling ratio. Even being down 10% today they will try to sell the small rip off the lows.
Amazing the hate on this stock.
You continue to think you are the only person in the world who has CLF right or can ready a P&L or a balance Sheet on CLF, while anyone who diasgrees with you is an idiot. All this time CLF has droppedd from hgh $20's to $3 today, all because you have CLF right and thw world has them wrong.
Here's what I think on BL...
If anything is sold, they do not have to wait for the CC to say so because Q2 ER should be good enough w/o that story in a supporting roll.
If something is sold and they announce it with the ER/CC, than maybe they have poor forward guideance to report and want to blanket that news with the sell.
Maybe it could be the triple whammy: Great earnings, great guideance and a sale of something/everything followed by my personal favorite, a public shalacking of Gordon
This ER and CC should be the most interesting one yet. Maybe we'll finally know who has the story right (LG or WS). So far LG has outperformed earning forecasts (not all on pure growth though) but they keep winning on the diection of share price.
This drop tp $3 is mind-blowing and numbing. If LG blows them away again, which everything suggests he should do, with the debt being reduced, are they really killing CLF 4 times harder than the other producers on a lower IO price.
Johnson's condemnation of CLF is on what hte big four are doing and the lower/slower growth and demand story from China, of which CLF has almost nothing to do with.
it. People are still affraid of twtr but they're repecting the $35 level for now.
The new aprt-time CEo could come out with some news on what they are doing now to turn the tide for the company, but maybe they don't feel a need to do so. Some really mixed feelings from this company right now.
favoring a view that supply will not be enough or nor cause any more trouble for oil? Hope so.
The bigegst problem I have with CLF is that LG hasn't persuaded anyone he can / will do what he says, even after what he has done already, of which no one on WS ever thought he could do. Does this make sense?
LG should be hitting the media now but he thinks he does not have to. You get this from the tone of his vocie wehn he does his qtr CC. One and done until the next CC. Gordon attacked one company, CLF, and he lwts him get away with that.
others are down a mere 10%? Do they catch up (down) to CLF or is CLF overdone or is CLF the failure Gun always writea about?
We do not know because LG is leaving these questions unanswered as his/our shares are trashed to levels seeing in the worst of time.
open interest on the July 17 $4 puts is 43,000. The open interest on the $6 calls is at 22,600 and 25,140 on the $7 calls. Wonder if it is a play by someone to cover any outcome.
closing their books on CLF. May not be as many new shorts, who knows, but a hell of a lot of liquidation of shares.
Completely agree. Why he lets it happen with promises to defend shareholders from day one unti now without doing so is what puzzles me. Now I need to go throw up.
only retail doing the selling? Think again.
CLF is already 2million shares above its 10day average at 12:30pm eastern time. Today will be a massive volu,e day.
Anyone think LG doesn't owe us something, I call that foolish.
I voted for CASA and I support what they did so far to save the company. Had they lost he proxy CLF would be a footnote in history today.
What I do not approve of is how they leave WS to trash and bash toe company and only address them (which he does) during qtr CC. Even then, that does not work. Just look at SP for proof.
He does not have to call them stupid, but he owes it to shareholders and himself I suppose to have the dignity and respect to defend the company IF there is ANYTHING to defend at this point.
I don't think they can spend the money this way.
His "I have a gun moment" showed him to be fool on this issue, and much less credible. I would love to retract my comment on this, but I just do not believe they will/can spend the money to buy back shares that likely will not have any lasting impact on SP beyond 30 minutes.
They have to clean up the other issues (debt and selling something). I still do not believe they'll see a sale of these soon, if at all, and if they do it will be foe pennies.
grow MAU. So why the disgust?
WS generally buys fore moves 6 months ahead. If twtr does turn it around, you think they would be buying it now?