Post by
Fiberman on Apr 12, 2023 3:06pm
I hate this stock.
Got out when dropped below $4. At today's pricing I trying not to look again. Still have bandaged wounds riding down from $6 to $4. CFX has been such a dog on the operation and management side. No profit since 2018. I was bullish on here all last year with NBSK pulp prices at $900 or higher. Today? Prices are dropping daily. Sub $700 China NBSK is likely upon us. Those that are in denial are not selling. What's even more scary? The whole industry is built on forward China demand. China global pulp demand likely already peaked. The industry has a major over supply problem. Not to mention costs. Perhaps no bankruptcy issue. But so many red flags. Management does not own any real volume of the shares. No dividend in site. No excitement owning pulp mills. Good luck to you still holding. Doesn't help that the analyst have been pumping it up for 5 years dragging people thru this nightmare. What do they have today? $5 bucks? Double your money. It's a buy! The fact that the market cap today is sub $200million says something. Somebody has an angle. Greed stinks.
Comment by
kboorman on Apr 13, 2023 5:59am
Agreed, it is pain to see at these levels. Doesn't help that one of the insiders just reported last night they dumped almost their entire position. He bought 8000 shares back in 2021 at $5, dumped them all in April 2023 at just above $2.50. Even with Canadian pulp mills being small and inefficient, at some point someone has to just swoop in and take it
Comment by
OmahaValue on Apr 13, 2023 11:48am
The insider who sold is not up for relection on the board. I wouldn't read into that too much. The company should be repurchasing stock.