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hsvly
Rating: 1.43 (7 votes)
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I first became interested in HSVLY when it broke out above an all time high of 14 in the third week of July. The last time that this stock traded in the 14 area before July 2007 was in March 2006. The July breakout was short lived and the stock retreated to 12 a couple of weeks later. Then again on Sep 20 HSVLY closed at 15.68, a three year high, with above average volume. I started to look in the different financial pages and found out that there was not any single news about HSVLY. Now I am really really interested. Hsvly is in the steel industry, the DJ US steel index is up 17% from Aug 17 to Oct 4, in the same period HSVLY is up 32%, something about HSVLY is attracting buyers, or is the stock only going up because of the group performance. The outlook for the company in their interim report state that they expect a similar performance for the second half of the year compared with the results of the first half of 2007. A company named Evraz is the owner of 54.1% of HVSLY and they made an offer for the remaining shares, the board advisors recommended that shareholders don't accept the offer made in June. The stock is thinly traded. Is it possible that a second offer will be made? | ||
