Mueller Industries, Inc. (NYSE:MLI)
CAPS Rating:
The Company is a manufacturer of copper, brass, plastic, and aluminum products.
The Company is a manufacturer of copper, brass, plastic, and aluminum products.
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Recs
The economy is weakening and industrial companies will most likely take a hit in growth going forward. The company also had way too much speculative money given that the fundamentals did not justify their rocket like performance for the past 2 months.
Watching companies like these makes me question the value of QE2 since it's clear that people literally are buying companies without much thought just because they have money to push a stock up. The end result is another decent tumble and thus more wealth destruction.