Benj Gallander
Royal Group Tech.
RYG-T
DON'T BUY
Nov 13, 2003
Strong Canadian dollar has hurt. Management has taken a lot of money and industry doesn't seem to have a lot of respect for management. New management may be an improvement.
Has personally shorted this stock. Might be a buyer at book value of $10/11. Because of higher gas prices, they will suffer from higher resin costs which will create a margin squeeze.
Chairman, president and CFO were let go with cause today. Will be good for the company in the long run. In the short term, there will probably be a bit of a pop, but long term uncertainty.
Would stay away from this one. When you don't know what management is and prices going against you, you're better to step back and find out what's really there.
Have had operational problems as well as issues with management, owners and directors. Have got new management which is totally untested. Still have some operational issues. Way too early to buy.