Post by
extremerisk on May 27, 2021 10:56am
Odd to be trading under$33
Only reason if if steels are at a top. Credit Suisse says we are however other steel stocks Nucor, US steel and others are all powering higher based on infrastructure bill and still expanding steel prices.
Kestenbaum is a smart entrepreneur and he knows you let your winners run, don't sell too early. With zero interest rates, restart of economy after over year shut down bodes very well here. There is lots and lots of bent up demand out there.
I plan to add on any weakness including today.
Comment by
marsman1 on May 27, 2021 11:14am
The stock won't trade under $33 for long. BMO bot the stock at $33 so in order to resell it they will have to move the stock up. Why for instance would I buy the stock at $33 if I can buy it on the open market at under $33. Whats more , to intice me to buy at $33 , it had better be WELL above $33. So buy now folks.
Comment by
fishcarrier on May 27, 2021 11:53am
Bought a LOT this morning.Now waiting for the price to creep back up.
Comment by
dieter216 on May 27, 2021 3:58pm
Exactly... I feel fortunate to have been able to pu another 2,000 shares at this price level. After the BMO transaction closes June 2nd, share price will pop back up. I'm expecting we will have seen $40's by time Q.2 results are out in early August.
Comment by
fishcarrier on May 27, 2021 6:43pm
It's strange to compare things. Watched the banks report. CIBC made over $3 a share this past Q. Stock is at about $140. Stelco expected to make nearly $4 a share next quarter, and we hope stock price will be all of $40. One difference is that CM pays out a healthy dividend. All the same.
Comment by
dieter216 on May 28, 2021 8:21pm
Sorry but you're comparing apples to oranges that way. Bank stocks generate regular earnings/dividends, not cyclical like Stelco. Also you have to factor in market cap / shares outstanding etc. When was the last time CIBC went bankrupt? when was last time Stelco went bankrupt? You can't compare the two....cheers Dieter
Comment by
fishcarrier on May 29, 2021 1:01pm
I did mention dividends, and I don't intend to hold Stelco forever. I'm not in the least suggesting that share price of the two should be equal. But over $100 a share difference? I would sooner earn 3.85 on a 33 dollar share than 3.25 on a 140 dollar share. Returns are better, don't you agree?