You called it yourself. GARBAGE stockkkk. Folks should have moved on long ago. Simply put, big money can also be wrong at times. Just following them is not the keys to success. Just my opinion.
And yet Mr. Market does not care. Stock in the dumper again today. Down about 77% in the last one year. Laughing stock of the investment community.
is in the dumper again ! Nothing new here. Down 77% in the most recent one year. What happened to the white knights ? Lesson: Big Money can also be wrong. No guarantees in this game.
By #$%$" I'm guessing you mean anybody who is not long the stock, as you are ?
I can't imagine what it must feel like to have followed CASA into this stock, thinking that "big money" is always correct, getting creamed while the overall market keeps marching to new heights. I have family that is still holding on from w-a-y into the double digits, never again to see their pesos. It's called a stop loss. Trade with it.
Just like a lot of kids today, everything is somebody else's fault. Who made you buy this stock? Man up, and take responsibility. Until you do you will likely keep making the same mistake. It's called a stop loss. Trade with it.
Cliffs Natural Resources Inc. (CLF)
Talk about being weighed down. When Casablanca Capital took a 5% interest in this iron-ore producer in January 2014, the stock had already cratered from $100 to $19 in two-and-a-half years. The investment firm demanded that the company be broken into its domestic and international divisions.
Casablanca won a majority of board seats, but the collapse of the global commodity “supercycle” and persistent declines in world iron-ore prices have continued to ravage Cliffs’ business. Its shares now sit beneath $6, a loss of 70% since Casablanca’s stake was disclosed a bit more than 13 months ago.
This is funny. You said: "I believe the short sellers know they are screwed" How can that be? With the stock coming within 2 pennies of a new 10 year low, every short seller is laughing all the way to the bank.
So far it has cost him about $60k in three days. The good news may be that you can buy another 100,000 shares now and be ahead of him by the $60k.
Then why would you want to get long? There are w-a-y too many things to invest in than to mess with what may be the worst performing stock over the past 2 years.
The best one to me is the part about it being manipulated. I've come to realize that this just means the stock is not going in my direction. I did a 1000 day lookback on a iron ore freighter load of symbols, and CLF came up at the top as the worst performer of all of them. Unfortunately I have family in this pig north of 60, because they refuse to use a stop loss.