CLD - Cloud Peak Energy: Game Over?
In my previous article on Cloud Peak Energy (CLD), I highlighted several warning signs including 1) shipment guidance cut due to problems at the Antelope mine, 2) credit facility cut because of covenants, and 3) the transfer of headquarters to a mine, and concluded that there were no reasons to search for even a speculative entry and that shares were an avoid.
In hindsight, Cloud Peak Energy shares were an outright short as the stock dropped like a rock from the whereabouts of $2.00 level straight into the penny stock territory. Now that