Negative WSJ Article Causes CONSOL’s Stock to Slide, CEO Responds

short sellingIt’s strange, but true. Sometimes a single article that quotes a single financial expert/leader can dramatically affect a company’s stock price. Such is the case with CONSOL Energy. Last week an article in the Wall Street Journal quoted a hedge fund manager (investor playing with big piles of money) who said, in essence, he continues to bet that CONSOL’s stock will continue to drop in value, called a “short position” (for background on understanding short selling, see our article “Short Selling” – An Important Signal for Marcellus-Related Companies). The hedge fund manager accuses CONSOL of being driven by “financial engineering.” Since that news broke last week, CONSOL’s stock has gone down 16%. CONSOL CEO Nick DeIuliis, in an interview with the Pittsburgh Business Times, explains why the hedge fund manager is wrong about his company and its future prospects…

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