Opinions
Lorne Steinberg
AK Steel Holding
AKS-N
SELL
Aug 18, 2014
$10.360
Stock price when the opinion was issued
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COMMENT
They raised money last fall at $9-10 and it popped. They are affected by Steel prices. 50% is auto. He likes the company. There is a trade case to put tariffs on imported steel which should benefit them as steel prices are lower coming from China based on the stronger US dollar. These tariffs should benefit them. A good risk reward ratio.
INDUSTRIAL PRODUCTS
This is a highly leveraged steel company, and the steel business has been pretty bad. (He owns their bonds.) With a highly leveraged commodity player like this, he would suggest that you take your profit and run.