AKS - AK Steel: Benefit Of The Doubt Is Gone
"I am pleased with our third quarter results which demonstrated ongoing execution of our strategy", said CEO Roger Newport at the beginning of AK Steel (AKS) third-quarter earnings call. The stock market had a completely different view on the matter:
This year, AK Steel's shares could have been traded with a rather simple trading strategy: buy at or below $4.50 after the company's shares fall after an earnings report, then sell sometime before the next earnings report is due. Sometimes it worked well, sometimes less well, but the pattern was clear. With