compared to his commentary in June when he said that all is well at twtr and changes are not needed?
If not, twtr may bee the all time lows tomorrow.
right now. By close of AH today this might be 150M shares in 24 hours. Who is left to sell? Maybe a lot to short, but who is left standing to sell who will take a bath on this?
saw that too and this time I will bail if it takes sdrl back to 16ish area. Won't chance another turn back down unless the data shows a turn is happening.
Just keep in mind how badly WS firms were killed when they owned CLF long from before LG's time. They are not forgiving even now even knowing LG was not responsible for it. They hate the company and may be trying to get to equalization by shorting CLF from the blood bath they took years ago.
This is huge.
If the commentary on the CC was a mistake, it goes to show how inept this management is along with its BOD and should have a complete change to save the company.
In either scenario, they clearly did not have any concern for the shareholder, which it even worse in my view. This will be a text book example sometime soon on idiots in motion.
However, they can pay the CFO $70M+ to say we failed on every metric.
Who adivises these idiots? must be the same people who advise the republicans on how to loose a national election.
But that is the reason it won't be much of an offer. Canadian Govn can not afford this with the hits they are taking on oil and other commodities and why would they fund a high bid on an oversupplied commodity that may or may not ever see significant price appreciation in our lifetimes. I doubt another China story will materialize and a global GDP as low as it is and being revised down as much as it has doesn't help either.
The two coal mines they sold is the tell of how this will be priced I think
I did not think they would get anything or if they did it would not be a good offer. Was wrong on count one and I would love to be wrong also on count two about the bid values.
trade for another 6 - 24 months.
vol is slowing down now to 46m shares, only an additional 5m from 25 minutes ago. Whatever this portends for balance of day, who really knows. I hope at best all the sellers are gone by now
I was hoping they would have looked at all the commentary after the CC and had a press release or TV appearance this morning to shed better light on the story but for whatever reasons why, they have not and may not.
This is all about children running a public company and I think a 10 year old would have been smarter about the commentary last night
day, perhaps a capitulation day one way or the other. Many, huge vol.
You gotta love his positive views for the company if you have a longer time-horizon. Until than, they keep shorting and play the sure thing while the rurn around develops. Many do not believe it is possible by the questions they are asking
I agree for all the reasons already stated plus the ability for them to lower SG&A any more is dim. They lowered productions this qtr and last qtr . Demand is slack globally in in the US for the reasons I posted about many times before.
Also, No clarity on BL/CCAA, no buy-back, a contract price that was adjusted lower (with more to come more than likely) and more.
How does LG turn this mess around. The one-time factors that continue to help CLF ER each qtr are just that, one time items. They do not show a catalysts to support something we all want.
The CC will be his most challenging one yet because that takes CLF below $2 or above $4
Yes his background at GS should make him smarter than what was displayed during the CC unless they have a plan for something else because they clearly do not care about shareholders based off their remarks. They had to know (or at least I hope they knew) what it would do for SP.
I like that they actually acknowledged problems at the company, unlike the June commentary by the interm CEO, but I still believe that should have been kept inside the board room IF they had the shareholder in mind.