Down almost 11% @ $3.68 while Vale up 4 pennies. What a trash CLF is and MGT people sleeping at their desk. Paul Finan must be having a good snooze. This is even more than capitulation.. We don't know what BAD NEWS are
How could Shorts be so daring at this this low low price. It has to do with the amount of Debt and Debt only.LG can take away their weapon in a minute by buying back shares .. as simple as that.
Heavy Volume..Over 8 mil shares already traded .. daily ave. trading volume is about 8mil shares. May be Capitulation????????
That LG had it by his bedside to buyback shares? Did Shorts stole it??????? Now is the time for LG to come forward and buy back some 50 mil shares leaving only some 100 mil shares outstanding..
Well said... I have NOT seen any company Not defend when the stock keeps going down for NO apparent reason.Now is the time for LG to use $200 mil that the Board has authorized for the buybacks. Even if he uses only $100 mil, he can buy almost 25 mil shares and scare the shorts away. I really do NOT understand LG's strategy. Does he really want CLF stock to go down further well under $4?
lishe.. There should be No material impact if announce E. before markets open or after market close.
yea yea yea.. keep. hoping and waiting. Any other company would had done this buyback a long time ago when it was $5 and stabilize the stock price.
It cracked $4 and at a new low of $3.95. Where will it be by the time Q-2 earnings? I guess there may be NO BIDS for BL. CLF needed to send a senior guy to Quebec and work with their Gov. to expedite the resolution of BL and he must stay in Motel 6 while there.
I hope and pray Q-2 earnings beat the Est. by a wide margin like it did for Q-1. That's our only hope. We must wait till 7/22 now.
CLF @ new LOW of $4.03.. what a POS!! and LG talks big in CC. He needs to do some serious buyback of shares with $200 mil he has. The idea of CASA and LG MNGT was that the SB IO price will NOT affect US IO Operations and company's business when economy and auto sales and new home Construction going gangbuster.
And go under..OMFG?? I can't believe it and surf keep taking about all that cash they have. This MNGT is so incompetent and wont do a thing. Dow is up last 2 days and this #$%$ is going down and down.
Will not go to $2 or $3. I think it will hold $4.. too close to earnings date and expected to beat est. by a wide margin.
$0.44 Quarterly divy on CLV comes out to be 40% yield at a current stock price of $4.20. They should get rid off it I agree, and even LG said its going away in less than a year in the last CC
A share buyback should be a must to drive out Shorts as they scramble for a cover. Even LG said so .. he said if price is driven down too much he will use a loaded gun by his bedside ..meaning he will use $200 Mil that the Board has allocated for Buyback some millions of share and reduce the borrowing by Shorts. LG can do a lot more we have discussed here already. Keeping mum is NOT an alternative.
Aman!! I agree they probably should close down their IR Dept. Its a waste of money and they would save some bucks and have one Secretary to give a predetermined response. makes No difference. True the new MNGT did a little better but NO significant changes that Share Holders were looking for.
broke.. I understand what you saying.. This MNGT came into power by giving a lot of BS about changing the course, selling all non-core assets and strictly improving US IO business. They did very little and CLF was $18.41 on 8/11/14 and now @$4.20.. ie. down 77% in less than 11 months. Still I give LG some credit on cost cutting and reducing the CapEx. etc..
Any way these two dates are IMP as we will know about actual earnings vs. what analysts are predicting and how will BL play out about bids and what CLF will get out of it. Debt reduction and share buybacks are the most IMP items here now to stabilize the share price.
Days can't get any longer