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Sunday, February 07, 2010 11:08:36 PM
Posted by: mu12450 Date: Friday, December 04, 2009 11:39:59 AM
In reply to: Apogee24 who wrote msg# 879 Post # of 930
This is not an "Ongoing Concern" company anymore. I know from experience that during BK they have rewritten/cancelled contracts they felt were not to their best interest. Shut down and sold plants that were not profitable. I would not want to be one of their competitors next year.
Stock price will be, and in my opinion is now, based on profits, earned and projected, not depreciated value of the plants.
Pilgrim's has good people is a good company, now has been bought by a well run well financed company with lots of experience in the protein business and actually will be a good investment beyond $20.
Just my opinion, it's worth what you pay for it.
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