Last time when nickel was around 25/lb in 2007, MRE was all time high which was 9.60 Dollar because of two factor one was Less Number of shares in the market and second was LME stock was record low due to demand of all commodities. But the cost was way too high as compared to today's cost.
Realistically, I believe MRE should and must be in between 2 to 3 dollars due to the fact that Nickel is now 10 dollar, 100 % above from the cost. It was 9.60 dollar when nickel was 25/lb...2 to 3 dollar is quite reasonable price. They were under huge debt when it was 9.60 now they have huge amount of cash with NO debts............
As far as sentiments is concerns, as we have seen in Share business the sentiments changes in JUST no time. My sentiments are strong and long term buy.
MRE Price at posting:
76.0¢ Sentiment: ST Buy Disclosure: Held
