Post by
microcaphobby on Oct 10, 2024 12:07pm
my theory
There were some large buyers in the $3-$8 range. They want out because they are happy to make 100% on a microcap stock in 18 months. They have placed iceeburg order to sell. Their selling triggers selling by retail sharholders. The buyers believe there is much more upside. The dust will setle when the 3rd results come out and the company gives its outlook. The 3rd q comes out the same time as the US election. The worry is that Trump will cancel the big spending bills A recent article in the Wall street Journal said that soe of the large companies that are benficiaries of the legislation have been lobbying to keep thie legilation in ppalce because its good for jobs, energy etc. Trump is receptive.
In the 2nd q report and the Atrium report it appears that none of the contracts signed by DRX or being bid on are dependent on the government spending bill. Every indication from the company is that business is great and will be for 3-5 more years. All the reports fmo reliable trade sites like Construction Dive say businss is great. Add in the dmage by the hurricanes and you hasve lots of need for structural steel The indsutry is buiding more with steel because the buildings hold up much better in storms etc.