Let's hope the shorts start covering soon or else we'll see the sp dip below $10. Or we get some positive news that prompts buying on fundamentals.
Chicago Bridge & Iron Company (CBI~$14.40) The company near term will be merging into MDR ($6.09). In this case the "tail" (mdr) will be wagging the "head" (CBI). Both companies are not getting the most "fav" reviews by the herd! Both have been howling "dogs" & when the merger was announced "all hell broke loose"!
After the dust settled the stock ran from $14 to $21.54 by Jan 23, 2018. Since that time CBI had been steady because it actually is a great infrastructure play as a combined company. Both have and had debt issues and project overruns and management boondoggles.
During the past month we have experienced greater volatility in the Wall Street Casino and CBI has been crushed! As we entered the end of March CBI has trended back down to around its 6 month low of $14.00 and we believe as early as next week this stock will react in a positive manner and head higher as oversold MDR recovers. As mentioned the tail wags the head.
The funds dumped it because they did not want it on their books. The "shorts" love this kind of situation so they pile on and weak holders and flippers all get in the act. The real buyers wait for the bargain basement price and then pounce!
We like the upside potential for the short term in consideration of the severe price crush as of late!
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