Stock price when the opinion was issued
This is very whippy, and he wouldn’t want you to be overly focused and concentrated in such an idiosyncratic name. Steel names are not his favourite. The chart indicates it has been very challenged. Fundamentally, they have had some earnings misses and are more often missing then they are hitting. There are much greener pastures elsewhere.
This has had a really great recovery off the bottom, but the steel cycle is very challenged. Every significant country wants the steel industry. It is part of independence. There is too much steel capacity out there, and you are really at the mercy of imports.