I also was trading AMCO back then. It amazes me why someone would sell at these levels especially now that sales are improving. The most unloved stocks on Wall Street are the ones that will make you rich. Anyone who sells here is selling at the bottom even if the earnings report is average.
It will occur when a fund buys in I suspect. I hope I am right for your sake!!
Sorry to disappoint you,tgn2166, but its just a matter of time until AMCO reports a profit for the year probably as soon as March. The winter quarter was AMCO's worse quarter and I have no doubt it will be better so things ARE looking up. Looking in the rear view mirror doesn't work well for picking stocks according to Peter Lynch. If you think AMCO is overvalued, look at the valuation of Ach, also a Chinese company.
AMCO didn't disappoint last quarter. My take on this is, if AMCO can make the scrap business work, they can make a lot of profit. The last 3 quarters have seen sales of 24M,24M and 32M. I can't tell you if the contract has run out, but the AMCO's website said that scrap was being mandated by the Chinese government for pollution reasons. The scrap business is no where near full production so if AMCO can get business, there is a lot of hope.
Due to the fact that this stock can't make much money and can lose a lot, I can't understand why one would purchase this stock. amco is a much better valuation and may turn a healthy profit soon. What do you think?
The sales in Europe in the past were sales from the plant in Illinois. I haven't been reading the reports lately on sgma, but I am familiar on sgma in the past. I really don't believe things have changed much, its still the same old hype. One can look at the book value here and say how good it looks, but management dropped the ball before. Management used the reason that they bought Able because they needed the technology that that company had and paid too much. If management had waited, there were a lot better opportunities available since a recession occurred. At the same time, they were building the Chinese plant also. I got really excited about that since it appeared there would be a lot of Chinese sales and a low cost basis, but it came in as a dud. I would wait after the earnings report to establish a position here.
Hopeful200, I think you are missing something here that could be a major drag on earnings. SGMA has a significant amount of business in Europe. A higher dollar that isn't hedged could derail sales and profits there.
Why would anyone vote for an increase in the number of shares? All this has done is give the management a raise. This will not help the share price. I really wonder if anyone sees that this company may actually turn a profit this year yet the share price is extremely low. Plug Power sells for a lot more and loses a lot more money. As for what they will do with the money for a secondary offering, don't be surprise to see amco buying that mountain of iron ore in Alabama. In the past, I have not seen where a secondary paid off for shareholders. The mountain of iron ore could if the price is of it right.
American companies do it all the time! It's great way to make a profit! You have two names one for receivables and one for payables. You collect from the later name and use the former name as a way not to pay! Judges just wink at you! As long as the Judge gets paid, you got nothing to worry about!. HEHEHE. Do you have this board confused with the bac board or the plug board? What will you say when amco posts a profit report of 70 cents for the fourth quarter?
You lack credibility if you really believe the market cap increase 700% What does that say about you and the sec? Your main complaint against amco was Draco which was justified, but Draco is gone.
With amco there are two profit generators. The trading business is more profitable than the scrap business which is newer. Profit margins should be higher for the scrap business. The last earnings report showed a profit of 7 cents for the quarter which was very good. The scrap metal business volume was better. Investor who disliked the report wrote that the money earned was not collected. At this point, the money should be there. amco can't extend much credit so this is not an area that I believe will be a long term issue although Chinese businesses are "late payers" in general. As for Draco, I suspect there is more to come. I am wondering if there will be a payment issue involved. I have no way of knowing this. Hey, your paying a small price for a business that is getting off the ground that has all kinds of ways to turn profitable. In addition to this, there will be more help from the Chinese government as the world struggles. I see more quantitative easing from much of the world and there could be favorable tax issues coming
If you check out the price action of what happened last year, you will see that the stock price rose in all of January. guyadami1964 is correct in his posting. I have checked out a lot of stocks and some have big losses yet trade in the teens. I bought more. I am not going to let fear stop me from taking a calculated chance. You should not either!
It would be nice if I had a crystal ball, but since I do not, I am going to buy more. You will hate yourself if this is a super buying opportunity and you missed it. The price is so cheap that its not going to kill you here.
Last year, this was amco's best quarter. I am hopeful that this is more than a seasonal pattern. A few more days of this, we could be in the 40 cent range
I am wondering if the reason this stock remains flat is that disgruntle investors have shorted the stock. I find the company very interesting to say the least. At the current price of the stock, a stock buyback is possible and the company could go private.
Buying opportunities around the globe at this moment also appear to be present. Just look at what happened in Russia. Maybe Russia is a source of scrap or ore.
Tick Tock Tick Tock Tick Tock
You saw the property and Draco wants the merger and it's a scam? Yao owns 11,000,000 shares the last time I checked. I agree the accounting isn't perfect, but the stock is at distressed values.