They should have sold their stake for 126Mil. They don't have the capital to fund this jv alone while buring cash on the coal business.
something fishy is going on. might explain that huge drop we got mid day.
10k an acre seems pretty steep. They should at most paid 9k. Real value is around 6k per acre. Looks like they just took an immediate 50million dollar write down. #$%$ is this?
learn how to hedge your positions dummys. it makes life a lot less stressful
Fear of delisting. The only companies who accept delisting are the ones with no cash to buy back shares.
I've seen this price action before in other stocks on big declines. A big player stepped in today. It will be very hard to break the current level. Sorry shorties and put buyers. I would get out now.