Post by
kboorman on Jun 20, 2024 3:58pm
New lows
Got down to $1.08 CAD (-23%) today on around 130,000 volume and the day isn't over yet, roughly $70 CAD marketcap now
Comment by
Daudau11 on Jun 20, 2024 4:18pm
Someone really wants out. Basically sell everything at market!!
Comment by
JayStatusUpdate on Jun 20, 2024 4:49pm
Not sure what is going on but likely pricing in a bankruptcy or sale. They are obviously not warning shareholders. This doesn't look good.
Comment by
Apaulson on Jun 20, 2024 5:33pm
This thing is a liability. There's no reason for CFP to be buy the shares along with its debt. Let it go bankrupt. CFP will be the only bidder for the assets.
Comment by
OmahaValue on Jun 20, 2024 5:57pm
Why would it go into bankruptcy? At these pulp prices they are profitable (even with inconsistent fibre supply). They also just removed the RB1 replacement from the planned capex. An acquisition is a possibility though - hopefully at a much higher price though.
Comment by
Catscratch on Jun 20, 2024 6:34pm
My guess is the seller is somebody with a capital gains tax bill they are trying to offset with a loss. Due to Trudeau's idiotic capital gains inclusion rate change taking effect on June 25.
Comment by
Apaulson on Jun 20, 2024 9:03pm
I don't know if it was tax loss selling. There was only 140k shares sold. It was probably the housing report. Housing starts in the US are down again. Pulp as a byproduct is affected.
Comment by
Apaulson on Jun 21, 2024 9:08am
It probably had more to do with quadruple witching day.
Comment by
Apaulson on Jun 20, 2024 8:56pm
Maybe with just one mill it can breakeven, but when has CFX ever consistently made a profit? The one mill is not worth more than the liabilities though.
Comment by
kboorman on Jul 12, 2024 4:18pm
Another new low, closing at $1.00 CAD, hitting $0.99 shortly before close. How much longer can we blame tax loss selling, housing reports and quad witching days? They simply have not performed well and the fiber situation is still a giant question mark shaped cloud hanging over the business
Comment by
kboorman on Aug 14, 2024 5:27pm
Almost down to $50m CAD marketcap. Probably way below the threshhold for funds or other institutionals to keep holding. When will this turnaround, if ever? What catalyst or sign are you watching out for to see that they have turned the corner?
Comment by
Catscratch on Aug 16, 2024 9:54am
I think CFX' recovery will start with an improvement to lumber prices which should lead to more production from Canfor/fiber supply to Canfor Pulp. Then would want to see a couple consistent quarters of Operating Cash Flow of at least $15M to $20M per quarter under the new operating footprint. It does look like lumber prices may have bottomed in mid-July.
Comment by
Apaulson on Aug 17, 2024 7:53am
Pattison's puppets are running CFX into the ground so that CFP can buy it for ultra cheap. They may even let it go into bankruptcy and get it without having to pay the minority shareholders at all.
Comment by
Apaulson on Aug 22, 2024 2:29pm
One of you guys hit a fat finger mistake on this one?
Comment by
Chefboy69 on Aug 22, 2024 9:23pm
agreed did DD here and i would not touch this with a ten foot pole.. A lot of gamblers in this market just look at ODTE options market right now....insanity
Comment by
kboorman on Aug 26, 2024 1:51pm
Another fat finger today? Or someone is scooping up whatever they can