Well as a shareholder of ANR, I feel like Rocky Balboa must have felt when Apollo Creed was kicking the living daylights out of him. But today's repurchase of debt is hopefully the start of our comeback. GLTAL.
The largest U.S. coal company is valued at about 200 million; a burger joint with about 60 stores just went public and is valued at 1.7 billion. I don't know about you guys, but I'm thinking something is awfully wrong with the way markets work in this country now.
Take a look at assets and liabilities and then you can get an idea whether a company is close to bankruptcy or not. I don't think ANR is close to bankruptcy but it is not in great shape , either.
Look at today. How does a company lose 13% in one day. Did coal prices sink today??? What has changed fundamentally??
Hedgies are bad news for coal until those who want to kill coal are out of power in DC. They are in bed together. Maybe they are getting their last licks in before the midterm elections.gltal
Those b++stards are on the wrong side of their bets on the 10 year bond and oil prices. My opinion they are also short coal and they have to close their positions to raise cash to cover their margin calls on their wrong bets. gltal