I am now convinced that this stock's trading is controlled by SHORTS only .MNGT is plain hopeless. We need activist like Carl Icahn here. Drapkin of CAS is NOT a strong guy to stir up the things.
kay.. as you know you can NEVER tell how CLF stock is going o do. It has its own mind or its price and direction are being controlled by the Shorts. This stock just gets NO respect.
Here we go again. Nothing seems to help CLF to scare off the Shorts. Market up 70 points while CLF down 3% @$22.05, after adjusted for the dividend. This is really a joke. I hope CAS moves to stir up the things once again.
Higher IO price due to China stocking it up and lowering of Operational expenses and cost of goods ( with more efficiency) by 6.2% to $1.2 B will improve 2014 earnings significantly. That should help the stock price to go up in 2014.
I agree...surf. But the little guy doesn't understand this . Hopefully this will change as a result of steps they are taking to make severe cuts all over.. in cap spending and SG&A expenses. he stock price is more of a perception of this company than the reality.
When Shorts Interest is 36.35%( more than 1/3 of total shares) its hard to make a headway to upside.
CLF MUST stop taking After-Tax Charges, if the stock is going to move up. They did it in q-4 ,2012 and again in Q-4 2013 . These charges wipe out earnings . Hopefully a huge decrease in Cap Expenses(from $862 Mil to about $400 Mil) in 2014 and further reduction in S,G and A expenses from $232 Mil to $185Mil in 2014 would also help improve stock price..IMO. I expect the stock to get to $30 by summer..
No my price is under $23.. I have written a lot of Calls and Puts and done very well. But if it gets to $35-$40, I am out .I just don't believe in their management . Carrabba the ex CEO nearly destroyed this old landmark Cleveland company. Hope the new CEO listens to CAS proposals and take some of them into consideration and enhances share price. This is a company in my city and I know a few people who work there.
Lets get CLF stock to $30 first. Its NOT been there in more than an year. CLF has a lot more work to do get rid of expensive non-productive assets. Otherwise CAS and other hedge funds not gonna stop.
Green every day ? where you been evans? this stock traded in the range of $102-$15 and still at a low end of spectrum in spite of all the good stuff going. The thing is that if price doesn't get into at least $30' there is a good chance someone will come and take the company and split it up and spin off the non-performing expensive assets.
Still saw IO price creeping up ..up $2.20 in last 2 days to $123.20 and China economy is expanding faster again. This along with CLF going to make huge cost cutting in 2014, under the threat from CAS, should keep the MNGT on its toe and the stock price will creep up slowly to $32-$35 by the middle of the summer..IMO
Jose.. you are one of those paid bashers? If its your own money you are shorting you better cover or you may be out on the street or in a shelter house after getting kicked out of your home for losing the rent money on CLF shorting.
CLF is now up over 7% at $23.46 up $1.56. Shorts better cover. Haven't seen yet what was said in the CC except I hear they sent out a letter to all shareholders.
Nathan.. hope your driver's license suddenly disappears when you are stopped by a cop for going thru the red light. Wake up and smell coffee. CLF price is NOT going to $10
A Huge Day of RECKONING FOR Shorts. Longs finally vindicated.. With all this tug of war between MNGT and CAS, Cliff's price will move up..may be in mid $30's. Cant wait for the CC.