RE: RE: Q not great, not a total disaster I'm interested also but at a lower price than this.
Downturn is sharp and the tank rental (steel) is pushing back with force here.
Biggest concern here is they knew half way through quarter of "severe" weakening in the tank rental business and didn't pre-announce it. Others were in the know and this should not have happened. Lose faith in management and a loss in faith by holders follows. Small rebound off days lows but a dividend cut will have to happen here and that will give the stock another kick in the pants. On top of that they will now have to go into cash conservation mode and "stop" tank expansion so that premium is now totally taken out of the stock.
They expanded way too fast and are now holding a ton of tanks with the ground floor removed!
Think I'll revisit this in a month on tax loss selling as the pressure will be immense over the coming month.
I feel for retail holders who were completely blindsided by this management team.