Despite New Pact, LDK Still Sucks RULES!
Ugly, ugly, ugly! Trading below $35 pre-market.
SUH-WEEET! I just limited out of 25 shares at $41. News must be hitting.
UPDATE: I just sold 25 more at $43.
Still no news out... but stock is reacting to something. Perhaps the CEO came out and clarified their inventory positions. Only 25 shares remaining of my original 75. This was never a big position for me nor did I expect to hold for long. I just was playing an oversold situation and hoping for a quick bounce...
UPDATE 2: "artha" provided the "real news" in the comments section there. Thank you!
FINAL UPDATE: Sold last 25 shares at $44.30.
3 comments:
From Briefing.com
LDK Solar raises Q3 revenue guidance above consensus; says no merit to allegations (37.50 )
Co said that it exceeded its original plan and shipped approximately 75 MW of wafers in the third fiscal quarter ended September 30, 2007. Co raises guidance for Q3 (Sep), sees Q3 (Sep) revs of $140-150 mln vs. $121.07 mln Reuters Estimates consensus, prior guidance $115-125 mln. LDK management stands by its internal review of the inventory and does not believe there are any material inconsistencies with what LDK has disclosed in its financial statements. "As we previously indicated, we believe that there is no merit in the allegations made about our inventory accounting practices, our business operations are normal and we continue making shipments to fulfill our customers' orders," stated Xiaofeng Peng, Chairman and CEO. "We remain confident that we have the appropriate financial controls and procedures in place for inventory reporting, and look forward to putting this unfortunate matter behind us."
artha,
Thanks! Perhaps I should subscribe to Briefing again after all...
Nah!
-DT
Can't get a damn bid!!
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