It depends on the severity of the earnings downgrade.
I think it's inevitable there will be a downgrade with rail infrastructure damaged, several lines currently out of operation, and coal mines unable to supply usual volumes of coal potentially for months.
If the downgrade is not too bad I think it will still test the $2.55-$2.60 support levels.
If it's as catastrophic as the weather that has already manifest then I think the stock will fall through $2.50, with large numbers of investors trying to get out without significant loss. Possibly fall 10-20% below the original issue price in the coming weeks.
My thoughts only.
Relieved to be short this stock tonight and not long!
Dreamcatcher
QRN Price at posting:
$2.68 Sentiment: Sell Disclosure: Held
