Q3 ResultsDon't like the lead up to the Q3 announcement. Usually the stock price advances as we approach the result date. This quarter the share price is dropping significantly.
I'm wondering if there's been a leak ahead of a bad result announcement or if shareholders are just nervous and no one is buying.
The book value is well above current market price so its a good time for the company to buy back some of its shares. Anyone know if this is the case? Usually when a company is buying back shares, the price is fairly stable as they add to the buying pressure.
We'll all see in the next few days. Q3 typically is a solid quarter in the steel industry.
Good luck to longs.