Personal anecdote...i was working for Peabody a decade ago when just before it filed for bankruptcy. ( its done it a few times...). I got a ok-ish payout and i remember it being under $2 a share at the time. I have been kicking myself for the last few years that didn't just take my redundancy and buy peabody stock when i saw it north of $20.
guess im saying, when these things turn they really turn. As another poster mentioned, some of those companies have razor thin margins so it doesnt take much of a coal price bounce for margins to 10x.
i dont actually see whc doing that because its already very profitable here with good margins. Miss some of the torque to prices, but also dont have the fear of bankruptcy hanging over it.
If a few large players dont have time to do their homework and just bin all coal producers together, i think ill be happy to take some off their hands on Monday.
WHC Price at posting:
$4.62 Sentiment: Buy Disclosure: Held
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