How delightful - eating another sh1t sandwich today.
Remember AT with a smile on his face talking about shorters being caught on "the wrong side of a trade"?
I wonder if he is smiling now.
I know that the situation will come good in the next few months (and beyond) but it is irritating that the same company that didn't bother to issue a statement when the POSCO deal was first announced talked up "several announcements" months ago - of which only one has since materialised.
Yes, GXY management isn't responsible for global conditions, but the absence of an assertive PR approach has left GXY extra vulnerable to shorters.
I made this observation the other day - that a friend of mine who is a business reporter says GXY looks great in terms of the fundamentals, but there is wariness around the perceived "secrecy" of management. I think that makes life easier for the price manipulators.
At $1.95, $1.96... one would assume there will be a TO attempt when the POSCO cash arrives. I wonder what they could snap up the company for at this point. $3? Ridiculous.
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