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Microcap & Penny Stocks : BYX- Bayou Steel
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To: terry gillham who wrote ()1/21/1998 11:40:00 PM
From: Gary C. Kennedy  Read Replies (1) of 101
 
What am I missing?

1. Stock is selling at $3.65
2. Book Value is $6.74.
3. BYX has $280 million in unused tax credit or $26/share.
4. Union expense of $3.3 million in 97 should be elliminated in 98.
5. Backlog of $112 million in October versus $63 million a year ago,
6. Seventeen year record shippments for the Month of October 97.
7. Tennessee facility was profitable for the first time last quarter.
8. Prices for heavy steel remain high.
9. Natural gas prices a significant cost are down sharply.
10. Asian imports not much of a threat for heavy steel.

It seems the stock should be selling at double its current price. Does anyone know of any negatives.
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