Monday, October 27, 2008

Mechel (MTL) is now a $4 Stock

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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]

No position


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