Introduction
CARBO Ceramics is a very interesting company. The current market capitalization is less than 50 million dollars. This company was worth 100 times more just a few years ago! Demand for their products has significantly declined while their efforts to diversify away from oilfield sector were not successful.
Why did CARBO Ceramics found itself in such a big hole?
CARBO Ceramics Inc. is in the business of manufacturing and selling various products which are used in the hydraulic fracturing of natural gas and oil wells. Their main and most lucrative product is ceramic proppant