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Thursday, July 26, 2012

Vestas stock approaches all-time low

Portland's supposed economic savior, which has its shiny new taxpayer-subsidized U.S. headquarters in the Pearl District, is clearly on life support:

Since hitting a record high of 692 Danish kroner, or about $113, in August 2008, shares have tumbled 96% to 24.95 kroner. They are off 61% year-to-date and now trading close to the all-time low of 19.74 kroner. Meanwhile, the yield on Vestas's corporate bond has jumped to around 20%, according to Deutsche Börse.

For a while there was a rumor of a Chinese takeover, but even that seems unlikely until the company's performance bottoms out -- if it does before the end comes.

Comments (10)

In other news, GM is doing just great!

Which definition of great do you mean:
Stock at its lowest point since its IPO?
Value of the company so low that the gov't would take a 17Billion with a B Bath to get out of it?

(the stock is under 19$ per share... down 52% from its high about 18 months ago).

My point: Government should not be betting taxpayer money on what the party in power thinks are the winners.

Cheers, Mike

Hmm. A good time to buy?

Friends, the problem is that we already DID buy... at roughly 53$ per share.

If you want to buy more and try to dollar cost average your share of the investment out of it, good luck...

True Story: Mrs. Mike was dropping me off at the airport, we saw a new Buick Lacrosse in a deep blue color... she commented that although it looked really good, 'at the end of the day, it's a Buick'...

Cheers, Mike

Hey, Mikey,

It's irony (or so I hope) - my point was that GM is Vestas writ large.

Sorry CC... Not used to irony here in Portlandia

Meanwhile, Facebook dropped below $24 per share ($38 IPO) in after hours trading. Way to go Zuck!

Ah, sure GM is doing great by Obama's standards. A year ago it was trading at $30, now it's down to $19. Its lost over 33% of its value but Obama claims it's successful while still owing us over $30 Billion. That's Obama economics.

General Motors is an Obama Win because the UAW made out like bandits and the shareholders got the Change.

That's the Chicago Way.

Mmm, Chinese takeover. Make sure they don't forget the cookies this time.

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