Stelco Inc (STE.TO)

DON'T BUY
Has been pretty bearish on steel prices for a while. Can't see how they can make money now when they couldn't do it in good times.
DON'T BUY
If you look at the reports, the price of steel plate is coming down. Would back off on all the steels right now.
DON'T BUY
When it emerges from bankruptcy protection, it is difficult to say what happens to current shareholders. Currently this is speculation, not investment.
TOP PICK
Top Short It's bankrupt and there is no equity value. Bids they are getting are for the assets, not the equity. Equity shareholders are going to be massively diluted.
BUY
Thinks they're coming to a point where both union and management are going to get a little sensible. Just coming together at the right time as the Chinese are starting to export rather than import.
WEAK BUY
Still in CCAA protection, so there is risk that they can't restructure and come out strengthened. Due to the strength of the steel market they will recover, do an equity issue and come out fairly well.
DON'T BUY
The 1st quarter is going to be a real mixed bag with all that's going on in Chapter 11. Really questions how much is going to be left for the share holders. Steel markets are definitely rolling over. China has slowed, North America is slowing down. Auto industry is under pressure.
DON'T BUY
A gamble. You're betting on what the courts are going to decide regarding a CCAA.
DON'T BUY
Buyers are pushing to stock price up. Amazed that it has gone so high.
TRADE
Problems are pension overhang, recently done well due to good steel markets.
SELL
Looking at the value of the company and the generation of cash, and that debt holders have to be paid before any money gets to the equity holders, he would be inclined to take his money and walk.
DON'T BUY
It could run into some resistance at this point. Expects there will be some profit takers coming in. He owns and is looking at $3/3.50 to take some profits.
BUY
Will have to have a much firmer view on future steel prices. A great speculation as something positive is going to happen. Not sure who will end up buying it Teachers/Sherritt consortium or Algoma. Speculative.
DON'T BUY
Stock has gone up is because of the price of steel. Not a well run company. Very high cost structure. If steel prices drop, they'll start to lose money again. Another problem is that China was an importer of steel, but are now becoming an exporter.
TRADE
Surprisingly, existing shares might have some value, because steel has made a comeback. Currently gushing cash.
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