Update Potash of Saskatchewan (POT)
posted on February 1, 2010 at 4:50 pm
Investors get gun shy. Make every attempt to buy into a market correction a big loser and most investors won’t put a dollar in even when there’s concrete evidence of a turnaround.
Companies do too. After seeing every projection for the price of potash fertilizer and for the company’s earnings turn out to be laughably high for the last year, management at Potash of Saskatchewan (POT) has finally come out with guidance that strikes me as laughably low.
On January 28, the company announced fourth quarter earnings of 80 cents a share. That was 2 cents a share above the Wall Street consensus but a huge drop from the $2.03 a share in the fourth quarter of 2008.
And then the company dropped its bomb. Read more
