How can 'big money' miss something so badly as this? According to secform4dotcom, Cap Gen plunked down $24,157,296 for 2,684,144 shares on Nov 16, 2010. Currently trading at $0.45, those shares are worth just $1,207,865 . . . a loss of about 95% on the purchase. I can't help but wonder who was doing the due-diligence for them on this transaction?
How are they going to minimize the dilution from the 105 million shares outstanding, and how does dilution imply a reversal ? Thanks for your insight.
On Yahoo: "Book value and tangible book value per common share as of March 31, 2013 were $0.32 and $0.30, respectively."
H. Kramer was touting it last night on Bloomberg . . . we will see today how much influence she has
You don't understand the reason for the decline but you want to buy more?
You wouldn't be surprised at what? That it would go down to $0.55? lol
The "big boys", the so called "smart money", aren't always right. The New York boys have lost a ton on this stock, paying $9.00 per share for about $35 mil worth over two years ago, IF my memory serves me correctly . . . and I think it does.
Before the market opened on Feb 19 Kramer said he was a "buyer" of CLF. It opened that morning at 29.41, now down some 38% to close today at 18.18. Boo-Yah ! !
Before the market opened on Feb 19 Kramer said that he was a buyer of CLF. That was the clue to cut for the hut. Since then, about 27 trading sessions, the stock is down about 35%.
Perhaps the KING of Bagholders ?
Before the market opened on Feb 19, Cramer on Squawk on the Street: Cramer said a secondary offering from Cliff's Natural Resources is holding its price, which makes him a buyer of the stock. In the 18 sessions since that time the stock is down some 25%.
IMO they have made some bad buys. Everything that I see they have bought this year is under water, about 37% of which now needs more than a double to get back to even, according to what I find on the web
That's what it looks to me like Steelhead is down on their two purchases this year. Maybe I am wrong, but that's what it looks like to me. Why should I follow them? I can lose that much on my own.