Mechel: Glad I Got Out When I Did

Long-time readers will remember former holding Mechel (MTL).... I just pulled up a quote and see it is hovering just over $4. Ouch. Russia has been among the worst stock markets this year, closing their market almost on a weekly basis now. Mr. Putin didn't help Mechel either with his "interest" in the company's business practices.

This was once a near $60 stock. By "once", I mean early summer.

[Jul 25: Russian Stock Market Plunging]
[Jul 24: Mechel Down 20% on Putin's Comments]
[Jul 23: Closing Mechel]

Disclosure: No position

Comments

[DaveW:]

Mark, no kidding. I stopped out of MTL at $38, stinging from a 15% loss, now I'm happy to have been thrown out of the bus rather than thrown under it!

2008 Oct 27 03:56 PM

[Steve K:]

i got out on July 24th moments after Mr. Putin's chilling comments.

2008 Oct 27 09:43 PM