They keep puking out this stock, worse than all other metals/mining stocks.
It has dropped 20% over 7 days. WS decided to book some profits on this after the last ER. I hope we see buyers looking to a brighter near-terms future stepping back in.
pointing out the obvious and shinning a brighter, public light on the companies shortfalls. Shareholders and funds have to be getting completely disgusted in CLF and will bail in an instant on this company.
I welcome the new and wish that Cas could take it over today. It can not get any worse than this.
I have no problem giving my support to Cas with or without CLF doing something about this downgrade. They have not gone after the shorts so far, and I will not support this team in any way going forward. The battles going forward between CLF and Cas will be interesting to watch, Too bad they won't have an impact on PPS.
Do not agree with your conclusions. CLF is now near its 5 year lows, just $3 above its 12 month lows. Hard to imagine they would attempt to pound this lower given the existing factors that could cause this stock to pop higher with Casablanca. Unless they are playing the short term turmoil, I think the short narrative is to risky. There are better stocks to attack.
of one stock.
Something more sinister is going on with CLF. No matter what talking points we post about showing the positives of CLF, WS hates the stock. They hate it.
WS will buy and hold a developing story, They do not see one for CLF or they would buy it, not short it with vigor. They have no fears for the new management team or its plans, a hostile take-over, improving fundamentals, nothing.
Now add in the renewed worries of China, slowing global growth, declining commodities, US GDP holding steady near 2% rather than 2.5% to 3.5% that was predicted, and the entire space, along with CLF, these continue to be hammered.
one time on a 3 year chart, never on the 1 year chart. I hope it holds today and starts to recover, but who the heck knows. It is also well below its 10/50/200DMA and has seen so very few up days of late.
CLF has not responded to matters about the share price. I suppose this is because they have nothing to say that will change the direction short term.
Even at this low level, we do not see board members or insdiers adding shares to their own positions.
It is hard to support the failuer of CLF to fix the company or put a stake in the heart of short sellers.
Also take a lessons from GE, where it's CEO spent his entire 2013 bonus on buying shares in GE in the open market. He has also made other purchases over the year. This sends a message, and a determination to run the company in a way that favors shareholders.
It has been awhile since I looked up what CLF Insiders and board members have done in regards to buying their owns shares in the open market, or even exercising options, but I suppose they think their best bet is on a payroll check and not from appreciation of owing shares in the company.
I disagree with your comment about the daily drops being due to options exp. I rarely see daily drops happening in any security over the course of a week. The drops generally occur on Fridays and not over every day leading into opt exp.
Your two replies are good ones. I even agree with what surf said. I am so happy to see this f-ers squirming. It is high time they do something besides loose shareholder value.
gaining momentum. The only times CLF is coming out with something to say is in response to Cas. I believe they are worried, and I think they will try to Hodge-Podge something for release soon to re-direct focus on their team and their plan.
At this point I do not believe they are in charge of the story. Stock price could get uglier before it gets better while this battle looms.
Not too long ago we all laughed at a $10 price target for CLF. Not saying we'll get there, but I certainly did not believe $18 would be seen again. With opt exp today, they will hold it just over $18.50
I will vote my shares when the proxy comes out for Casablanca unless the current management does something compelling to change the story on CLF. It is not what they have to say, it actually has to be something that gets the stock moving in a rare direction, upward.
DDD is down about 17% over 5-1/2 days. Darn near bear market @ 20%. Suddenly, it has become a stock to sell rather than hold. Very close to 200DMA. Hope it holds and bounces from here.
Amen. brother. CLF is down from $29 to $18 over 3 months and people want to pretend that all of the metrics for CLF are fine. If they were, WS would not be selling/shorting the #$%$ out of this stock.
I suppose $29 late last year was an excessive value, but $25 should not be.
The new CEO said at his CC following recent ER that his singular focus was enhancing shareholder value. We were at $23 than. I wish he would find a new focus, because it ain't working.
Are you serious? $29to $19 in 3 months, even after Casablanca, 4 good ER and a favorable CC from CLF. What more do you want or need?
If you want a better reply I will do that next week when I return for my vacation in Mexico. However, you can not be that blinded by what is happening to CLF.
WS does not, I repeat, does not sell good stories. They buy good stories. CLF story is not that good right now or WS would be buying the stock and enough of this BS that it is being manipulated to death. WS is playing with CLF because they do not see the same story that you see.
At this point, neither do I.
low cost basis. Unlike GE that makes thousands of products , or an Apple that sells technology, or a Wal Mart that must be able to compete against other retailers, CLF produces a simple product that.
CLF is not impacted by the marketing dynamics of these other businesses who must compete all the time for their share of sales.
CLF is failing at darn near every metric a commodity business is measured against. Add in worries over China slowing and lower IO pricing, along with a management team which seems to be lost or clueless about shareholder value, and you end up with this mess called CLF.
Sometimes it is just best to acknowledge the truth about CLF. Let's say they get it right and are able to turn the company around. I do not want to wait five years for this to happen because there are better investing opportunities everywhere.
At best CLF is a $25-$30 stock. At best.
Is something I doubt we' ll ever see from anyone at CLF.
Just checking in on things from Riviera Maya and it is ugly. I think I will go have another cocktail or two.
I did not see any news forms Casablanca. Have to imagine he feels the same pain as we do after acquiring
More than five percent of the company.
Folks, we seem to be in trouble here, and there does not seem to be any dynamic for this company short of Casablanca's plans. I now think the funds which have positions in CLF could be persuaded to jump ship and throw in their support for Casablanca. I did not think this way before the ER and CC.
WS is saying this business is F'd up. I am inclined to believe that.
Time for that drink