Going much lower.
Could see a P/E of 5 before it bottoms.
Lifeless value trap with a massive short position...not something anybody wants to own in this market.
JEC and FLR approaching new 52 week lows.
Despite CBI having a significantly lower P/E, it looks like CBI is also getting ready to tank back under $35.
No support at any level just like last year.
Management watched short interest go from 2 million shares to a staggering 16 million shares (15% of the float and 3X the sector average) in 7 months last year and did nothing to protect shareholder value.
Now the stock is just a manipulated toy subject to that massive short position and the options that go along with it.
Classic dead money value trap.
Even though FLR and JEC are both up today, CBI is still down and any little bump will get dumped.
Start buying when it takes out $35 which will happen.
Shorts are again crawling all over CBI because of the weak management.
Shorts have no fear of this management and know they can basically take CBI down to almost any level they want with or without negative news.
Relentless selling....Classic CBI trading that could/should result in a test of the $32 low.
Then it might be a buy with a P/E under 6.
Only stock out of 35 that we track in the energy sector that is down today.
Endless supply of stock for sale at every level just like the end of last year.
Looks like a test of the low $30's is already baked.
Plenty of ways to make money with this one EXCEPT buy and hold.