Not sure about that. In a sharp downturn, it will succumb (with the underlying commodity). At present, the high cash holding, a war chest arming it for predatory action on others being hit harder, would explain it's resilience. I think that is what the CEO is saying when he says he's not sure if the funds would be better used in a buyback or not. As I've said he's a pirate or (young) Turk if you prefer. Only he's not that young certainly not old.
All IMVHO
MLX Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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