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MRF down today why is that??????

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ANDY26
Contributor
Why is MRF down today big time when all the other resource stocks are up quite a bit???? Anyone??
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11 REPLIES 11
Not applicable
sens announcement - they shut down a bunch of furnaces. Share price dropped 10% in a matter of minutes afterwards
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Running_bull
Frequent Contributor
Did you see the SENS? its was long time coming...
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ANDY26
Contributor
Yes just got the sens so just lost a small bundle on ssf ,so is it to late ro sell or is a bounce imminent?
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Not applicable
why is this price impacted so negatively. Surely this is a sign of good business as they are limiting various overhead expenditure, and they always have the option to re-open these operations when the market situation improves. As an investor this makes me more comfortable, and a 10% drop seems excessive
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Shard
Super Contributor
You guys got off easy imo, last time they announced they were shutting down 1 furnace the price dropped 10%. Good business maybe, but still means no turnovera and an obvious indication of the lack of demand.
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platsak
Super Contributor
Back to 100. Problably just short covering.
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Not applicable
up to 104c. A lot better there. surely previous market prices would've factored in lower demand so this should not be a shock
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Newtherapist
New Contributor
Yes, less turnover but better margins on the running furnaces and looks like might be a brief shutdown in light of $600 billion Chinese bailout plans.
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gmoney
Contributor
they must be a bunch of clowns anouncing this on one of the best resourse days in a long time
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Not applicable
If MRF can't stay green on a resource run like today, what chance does it have on the next sell off. 100 used to be a strong support point, now I doubt it will hold
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gmoney
Contributor
i will buy back @ 20-50 cents .i am very disapointed and have lost a small fortune.i sold my whole amount @99cents yesterday
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