Alpha Natural Resources, Inc. (OTCMKTS:ANRZ) Just Keeps On Sliding
[[tagnumber 0]][[tagnumber 1]]The stock of Alpha Natural Resources, Inc. (OTCMKTS:ANRZ) has suffered a lot as it was downgraded from being traded on the New York Stock Exchange (NYSE) to the OTC bulletin board. The stock had been slowly declining for quite some time, but as the news hit the presses [[tagnumber 2]]ANRZ[[tagnumber 3]] literally crashed on massive volumes.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Of course, being listed on the NYSE, means that [[tagnumber 2]]ANRZ[[tagnumber 3]] isn’t your ordinary OTC entity. Furthermore, its market cap of around $4.5 million is very small when you consider the impressive numbers contained in the company’s financial reports. Here is just an example from [[tagnumber 2]]ANRZ’s[[tagnumber 3]] Q1 filing.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 15]] [[tagnumber 16]]cash: $476 million[[tagnumber 17]] [[tagnumber 16]]current assets: $1.5 billion[[tagnumber 17]] [[tagnumber 16]]current liabilities: $943 million[[tagnumber 17]] [[tagnumber 16]]quarterly revenues: $841 million[[tagnumber 17]] [[tagnumber 16]]quarterly net income: $68 million[[tagnumber 17]] [[tagnumber 26]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]And while these numbers are quite impressive, [[tagnumber 2]]ANRZ[[tagnumber 3]] only managed to record a single green session since its delisting from the NYSE, gaining 23.80% last Tuesday. After that the company stock returned to sliding down the charts and the daily volumes declined.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]This week started with a 8.88% loss and [[tagnumber 2]]ANRZ[[tagnumber 3]] finished yesterday’s session with a price of $0.0631. During the six and a half hours of trading we saw more than 2.2 million shares changed their owners and generated $151 thousand in daily dollar volume.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Will [[tagnumber 2]]ANRZ[[tagnumber 3]] manage to stabilize and regain some of the lost value is for time to tell. Until that time comes you should be sure to do your due diligence in order to set appropriate time horizons for your trades.[[tagnumber 4]]
