July 11, 2008

Commodity trading - Three weeks later the stock had hit 10.

Then I thought it was about time for me to look into the company. I attended a stockholders' meeting and took a look at the financial statement of the corporation that was passed out. In the previous 12 months it had lost $180,000 which had completely eliminated its entire net worth. Its liabilities were greater than its assets. A new management had taken over and had "plans" for the future, possibly mergers. After the meeting and the publication of the financial statement did the stock go down?


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