Wednesday, September 23, 2009

Nasty Day for Garbage Stocks

My favorite short, GGC, down 5% today and more after hours. I have been meaning to post about GGC for some time. I'll try to put something out this weekend. My price target for this one is $5-$10.

REG pair trade is working quite well - down 5% versus the preferred down 1%. Oppenheimer initiated coverage today with an underperform. My price target is <$20.


eh said...

GGC is interesting, to say the least. The day-traders really gunned it after the (1:25!) reverse split. Somehow it never made it onto my radar...

CP said...

Yeah if you look at its close competitor OLN I think you will see it is way overvalued.

After the reverse split, it turned into a momentum stock for a while. That cratered, but it still hasn't come back to reality.