Stelco Holdings Inc STZHF

issuer bid

[noneck]

I think that LG bedrock wants to sell more shares.The company will buy these and cancel them.They are doing it this way in case any other shareholders want to sell thus protecting them.Should be good for the stock.

[extremerisk]

They can't sell anymore until August.  Have one year lock up from last sale in August 2021.   I think this is just squeezing shorts.  Updated data reports 1.3 million shares short dec 15th so gone up. Don't think any shorts are in the money now so they will still be slowly covering.  Would be nice if big whale arrived to drive price up and make the shorts pay as they

[Jasonuw]

Short interest isn't high tbh. Even if float is 40 million shares, short interest is what 2 or 3%? Overall maybe 1.5% of shares outstanding total? Might be a preemptive move. At least that would make some sense in my opinion. Lead times are shrinking to 3 weeks from the 12 weeks we saw in the summer. Spot Steel prices have fallen by $172 USD/st in 3 weeks. Even though Stelco has long term

[extremerisk]

Don't see that in the cards.  Shorters have been able to play Stelco like a violin but not for much longer.  Look at how trading today.  Strong market very steel company is up.  Steel futures up.  Stelco has lowest cost per ton and favourable Canadian dollar.  And Stelco is the only steel down.  Hmmmmm it is low volume though.  I bought more o  

[Jasonuw]

I dont agree with the boogeyman short seller theory. This isn't GameStop with over 100% short interest. The data doesn't support that. 2% short interest and days to cover of less than 3? I don't know why an individual company moves up or down on any given day but volume is 0.1% of market cap today. Could be 1 person unwinding his position before end of year. Only 75 thousand shares

[Tothemoon2]

I think they can sell if Stelco board agrees to a waiver of said lockup.

[Tothemoon2]

In connection with the Share Repurchase Transaction, the Selling Shareholder has entered into a lock-up arrangement with the Company pursuant to the Share Purchase Agreement under which the Selling Shareholder has agreed that it will not, directly or indirectly, without the prior written consent of the board of directors of the Company, acting reasonably, sell, offer to sell, grant any option

[fishcarrier]

Noneck, I think you're right on the money. The following abbreviated clause in the offer is the telling one in mho. : The Board of Directors has obtained a liquidity opinion to the effect that, based on and subject to the qualifications, assumptions and limitations stated in such opinion, a liquid market for the Shares exists as of December 20, 2021 , and that it is reasonable

[marsman1]

Lots of interesting theories here .  The lawyers have done there work so as to protect Alan if anything goes really wrong . I have no problem with that because he is doing whats right for him and I can buy or sell at any time. The bottom line for me is the price of steel , which is going down  ,  the company sales , which we don't know because they do not give guiedance , and

[fishcarrier]

Marsman, I would buy anything in the $37-38 range - which it is right now. Once the offering closes, I suspect you won't find too much below $40 anymore. 

[marsman1]

Fishcarrier , I respect your knowledge and opinion but when i bot Stelco I thought it was a "slam dunk" . I don't feel that way anymore. I hope you make lots of money on your call , but for me , if I miss another big up , so be it. I have other ideas of stocks in what I now consider to be "slam Dunks" I am deploying my money into thse stocks.

[Jasonuw]

I hate to say it but I agree. I've reduced my position by >95%. The last block of shares I am keeping as a 'lottery ticket' in case the market starts appreciating this stock. As seen by my other posts on this stock - I am aware of the financials, the management, and the industry forces. I'm posting my list of reasons for why I've reduced my holdings. If someone would like to

[Tothemoon2]

Agree