It’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…
It’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 