By Mike Arnold:
Every security is a sell at one price, a hold at some lower price and a buy at yet some further decremented price when value is appreciably higher than the stock quote. Before the corrosive global financial crisis and at the apex of crude oil prices, Vestas Wind Systems (VWDRY.PK) closed at about $48/share on June 16, 2008. Today, shares trade hands around $3/share. That represents a breathtaking 94% reduction in Vestas’ share price.
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To be sure, Vestas was to be avoided at $48/share, but has the market punished Vestas’ share price enough that it now represents a compelling buying opportunity?
Business Overview:
Vestas Wind Systems A/S engages in the manufacture and sale of wind turbines and wind power systems in Europe, Africa, the Americas, and the Asia Pacific. It also offers wind project planning, procurement, construction, and operation services; and after sale services, as well as