The reason is simple. As Phillip said, it's inventories. As a steel trader, AYS bought steel when it was rising, and they sold steel products at a much higher price than their cost, due to the lag time between purchasing and selling. Now the REVERSE will happen, and AYS is likely to make loases, as they bought their current steel inventories at inflated prices, but will have to sell at depressed price.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by vcinvestor > 2021-11-05 11:36 | Report Abuse
the more he posts about a counter... you know the more desperate he is. must be close to margin call