The Company is a rapidly growing holding company with operations in two business segments: ferrous and non-ferrous scrap metal recycling, and fabrication of lead-based products.
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This stock has been tumbling since July from $17 to $9...
What is happening??? Look at SCHN also, it was at $110 and now down to $52???? Im starting to worry about these companies; can someone explain...
Commody prices have sunk, China's economy isn't doing so hot which reduces demand for commodies, the companies debt to income ratio has gone over 1, and investors are overreacting to anything and everything. Long term, I think this is still a good investment because all the latter should improve. If you start to get too freaked, consider how mutual funds are doing. Even they are tanking and they are supposed to the more secure investment because they are diversified. I suggest patients, things will get better as has been shown throughout the history of the market.
This stock follows the price of patinum to a large degree.
Anyone who is short would be a fool not to close their position at $6.50. This one can't go much lower, maybe $0.50-$0.75, and MEA would sooner rise $1.00-$2.00 from these levels then decline another $0.50.
Oh how wrong I was....
It appears this one has turned the corner and is in recovery mode.