So many rumours....There are so many rumors out there in our industry with pulp assets for sale. The players know it. Several companies in the mix. Pulp mills will change hands in Canada for certain. Further pulp mills may also need to shut. The landscape will take time to set. Still, a lot seems to be cooking.
What is clear with this symbol? Any morning interest in the stock is sold at high prices. Then by mid afternoon there is a clear effort to rachet it down on minor volume. Take a look at a 3 year chart. There is a clear strategy and pattern. It's a maunfactured delcline. Clear as day.
What I do like? CFX took a lot of forward uncertainty out by going from 4 mills to 2. If they can bring costs in line. Having a high demand NBSK product will one day create profits again. Changes and restructure may take another year. So this is a long term hold. Short term it will continue to be maniputated down. It's now at a point where they have options. They can easliy package and sell to another buyer at this price $100 million or buy out the shares and keep. Exciting.