A reader just sent this to me at 11:43 am EST Thursday morning.
“Hey Harold, Just read your latest blog post, and then decided to check in on AG, as its volume has been rather high these past couple of days. I was curious as to why its volume seemed quite a bit higher than the other precious metals / mining stocks you track. TradeStation has a little “news” widget that sometimes shows information about stocks I want to know more about, and in this case, there is merely a headline that reads, “Kerrisdale Capital to Release Short Report On First Majestic Silver Stating They Believe Company Has 70-80% Downside”. I learned from Dan Zanger that news is more often than not nothing but lies manufactured to drive prices to the places those in command want them. I am guessing this is yet another one of those situations. I’m curious to know where you stand on “news” items such as this. Thanks!– Chris”
I really didn’t know what to say, except this: Chris, Good question. My own source is Thomson-Reuters. According to whatever analysts are following AG, and T-R is receiving analysis from, AG is currently looking to earn $.18 a share, and that estimate has been rising steadily since April, when they were estimated to lose $.42 a share. So, unless Kerrisdale has something on AG that no one else knows… they’ve got AG wrong. We’ll see. Harold