Heading to $1.20 Sold out and took a loss. This was purposely...

Heading to $1.20

Sold out and took a loss. This was purposely accumulated in the last 2 weeks and then bought up higher before being dumped into the positive news. $1.4 doesn't look strong enough to be broken up higher and expecting the next few days to be red as the overall trend since May is down. Will look to re-enter there at a cheaper price but also hesitant based on the below fundamentals.

Researched a bit into Alcoa's history and legal battles they've faced as the world's oldest mining company (130+ years) and I'm slightly concerned that AWC might not win this battle in the Delaware courts. Alcoa pretty much wrote corporate law up there and will likely win this.. The market will respond to this view as we find out more about the court proceedings which the odds are not looking good for us.

Also, if you were the parent (Alcoa) with controlling power over a joint venture (AWAC) and your JV partner with non-controlling interest (AWC) pissed you off by purposely blocking the biggest corporate spinoff and value creating activity in your company's history by taking you to court - how do you think that bodes for future decisions on dividend distributions / share of profits to AWC? They might be vengeful and even spiteful towards AWC which is going to be interesting to see.

Overall, AWC doesn't look to be in a strong position and it makes sense why Perpetual dumped 100million shares last quarter. I won't be surprised if we see more shorting this quarter and not just by Perpetual but by other institutions as well.