I have been looking at this one, especially after it dropped bigtime at the end of June. Looks like they are reorganizing, and may end up eliminating shareholder equity in the 4th quarter as they come out of bankruptcy.
My question is:
Since the stock is down right now, is there a chance this thing can do some good running before qtr 4? Should I avoid this one?
This is the 3rd largest aluminum mill in the world right now...Its hard to believe the stock is this low now. Its at .05.
Thoughts and opinions very much welcome!
Posted by pensandoenti67 on :
Kaiser Aluminum Corporation (OTCBB:KLUCQ) is a leading producer of fabricated aluminum products for aerospace and high-strength, general engineering, automotive and custom industrial applications. The company has more than 2,000 employees and 11 plants in North America having the capacity to produce more than 400 million pounds annually of value-added sheet, plate, extrusions, forgings, rod, bar and tube. Upon emergence, the company also expects to continue to own its 49% interest in Anglesey Aluminium Limited, which operates an aluminum smelter in Wales.
The insiders knew of this announcement ont he 29th.. look at the chart price went from .08 to .01 now it's back to .06
The expectations of coming out of the bankrupt is good. since 2002.
The company's file for bankruptcy was in Feb 2002. The decline started in July 2001. The price was over 5.00
I think if by the 4th quarter they can get the company off the bankruptcy this one can be over a $1.00 by then.
Thanks for the finding... I din't invest in Kmart when it went down under $10 dollars... now is trading shld... sears.. the price $150.00
So this stock can be good... good luck and thanks excellent finding.
Posted by CTRL-ALT-DEL on :
Thanks for the help.
Did KMART get to keep their shares, or did they become worthless...and then re-issue new shares?
If Kaiser can retain their shares, then this could be a very good stock. I am just wondering if the shares will be worth anything in qtr 4, assuming that they DO get out of bankruptcy.
Posted by DiQuiRiesco on :
There is no answer to your question. Some companies do some don't.
Sure is tempting to take the chance.
Posted by CTRL-ALT-DEL on :
Looks like a quick drop at lunch, I am going to try to snatch up a few, just in case.
Thanks for the input!
Posted by madmoney on :
kmart cancelled thier shares and issued new ones opened around 4.50? i believe? would have been a GREAT buy then, kaiser may do the same. if they cancell and re-issue i will be a buyer, been waiting for the emergence news.
Posted by doling2005 on :
Yes they plan to cancel, it's in one of their news releases, see pinksheets.com