Many stocks are at this level - some trading 25% below cash. Forward earnings not too pretty, several steel mills slowing production, buyback canned, second tranche funding stalled, litigation ongoing, now focussing on Indonesia for short term cash flow.
Not pretty. Was a big fan of SRK but sold out out 90% at 3.10.
Those with funds tied up this, you may miss capitalising on other opps. when the market bottoms.
Not discounting SRK by any means, but theyre not on a good path atm.
Cheers,
The Sparkler
officially now trading under cash backing, page-2
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