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I am kicking myself for not buying any shares. I read the article and after hours both were up only a couple percent, it was still within the after hours time limit, so I could have bought. I was going to buy a small amount of each as a speculative play, but then I read the amount George Soros bought was just a tiny, tiny, tiny percentage of his account value, so I didn't buy. The next day they popped something like 50%, I forgot the exact number and thought ahh maybe I should just do it, but didn't want to take the risk. Fast forward a week or so and ACI is up almost 400% and BTU is up almost 100%.
That would of been one helluva a buy.... I didn't buy any but that ACI stock... I wish I had stock tips that good...
What's sad is usually things don't turn out this way. When you hear XYZ bought a bunch of XYZ shares, the stock already soared up before you can get in, but this is one of those rare ones where not only could you get in for just 2% after-hours, but you could have got in virtually any day since and still made a killing. One of my buddies just bought BTU right before the market closed, just a tiny amount, but it will be interesting to see if tomorrow is going to be another 20-50% gain lol.
Have both ACI/ BTU on my watchlist and in my opinion ACI was or maybe still is a good candidate for bankruptcy. BTU may not be far behind but feel BTU may be able to weather this anti-coal storm.
I would bet these will come back down after the day traders etc. are done playing with because I have not seen a change yet in the fundamentals. Actually thinking maybe more movement come election time if chances of a Republican getting in the white house so favorable.
I am kicking myself for not buying any shares. I read the article and after hours both were up only a couple percent, it was still within the after hours time limit, so I could have bought. I was going to buy a small amount of each as a speculative play, but then I read the amount George Soros bought was just a tiny, tiny, tiny percentage of his account value, so I didn't buy. The next day they popped something like 50%, I forgot the exact number and thought ahh maybe I should just do it, but didn't want to take the risk. Fast forward a week or so and ACI is up almost 400% and BTU is up almost 100%.
Long-term follower of BTU, ACI and ANR. ANR kicked the can surprisingly before ACI. Had my finger on the trigger to buy ACI a little over $1 post RS but didn't go through with it considering how ANR filed BK with cash on hand. However, went long BTU at $1.40. BTU much better shape than ACI. ACI is not out of the BK woods yet. Check out how their bonds are trading.....
If BTU survives this war on coal you will make 4-5X money easy in 2-3 years. In the meantime, it will present some good trading opportunities. I also bought some CNX around $12.
Just wanted to add to this thread, and bmw I don't know if you and others have followed the names in this space, but I have never seen a beat down and capitulation to the levels the coal sector has seen last few months. I get the "war on coal" and the politics behind it, but what the hell were these coal companies thinking on the way down the tubes? Really no fight at all especially with ANR. WLT is gone. ACI is close to being gone based on the way their bonds are trading even with the surge in stock price. BTU might be the only one left standing. Unbelievable really when you think about the fact that coal is still going to be providing electricity to a good extent for years even when all of the screaming and hollering is over. Guess these companies don't mind wiping out equity holders in the process and trying to restructure later.
I am rolling the dice currently with BTU in around $1.40.
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