Rhino Resource Partners (OTCMKTS: RHNO) has crashed from $250 in 2011 to now $0.40! A reader asked to look into RHNO stock and asked if it was a buy.
RHNO produces, processes, and sells various grades of steam and metallurgical coal from underground mines in the U.S. The Company also operates mines in Kentucky, Ohio, West Virginia, and Utah. Just like NGL Partners, Rhino Resource is down by more than 70% over the past year.
Many investors may be tempted to buy RHNO because it is cheap, and usually, a down market is a great time to pick up “cheap stocks.” Unfortunately, RHNO stock is not a buy, and investors are holding it could be in serious trouble.
A quick search of the RHNO revealed that several law firms were representing investors of RHNO and trying to recover losses. InvestmentFraudLawyers.com is offering free consultations.
Master Limited Partnerships (MLP)s are very complicated. The fact that MLPs are complicated and risky also calls for extra caution in the part of investors, given that such products are only ideal for wealthy and sophisticated institutional investors.
Stock Market Yesterday
The volatile price action continued yesterday, but ultimately new measures announced by the White House and the Fed helped stocks post a substantial gain that re-couped almost half of Monday’s losses. The S&P 500 rallied 6.00%.
Stocks opened slightly higher yesterday after a volatile session Monday night, where futures prices went from “limit up” to negative in the opening hours of the Euro-pean course. A downright terrible print to the German ZEW Survey (both current conditions and the forward-looking business expectations components) renewed fears about the global economy’s susceptibility to a recession from the corona-virus.
Mixed feelings among investors about various government and central bank responses to the coronavirus led to wavering price action shortly after the opening bell, and that saw the significant indexes fall to fresh 52-week lows with the Dow briefly slipping below the 20,000 marks for the first time since 2017.
Stocks quickly stabilized, however, and began to move higher thanks to a February Retail Sales report that was not as bad as feared (and had substantial revisions) while Industrial Pro-duction data was better than expected.
Stock Market Today
U.S. stock futures hit their 5% “limit down” levels, meaning they can’t trade any lower Wednesday. However, the exchange-traded funds that track the Dow Jones Industrial Average, S&P 500, and Nasdaq, which have no such curbs, were more than 6% lower. Meanwhile, the 10-year Treasury yield charged higher to around 1.13%, up from 0.75% on Monday. (CNBC)
- Still Looking For the Initial Low After Monetary and Fiscal Stimulus
- Extreme Fear in the Market, No Sign of Abating
- Treasuries Now Selling Off as Investors Dash for Cash
- Fed Launches a Commercial Paper Funding Facility
- Futures Trade Down by the Maximum Limit Once Again
Another volatile night and early morning in the future come one day after Wall Street rebounded from its worst day in more than three decades on hopes around Trump administration plans to inject $1 trillion into the U.S. economy to cushion the fallout from the coronavirus crisis.
U.S. coronavirus cases increased to nearly 6,500, with 114 deaths, according to Johns Hopkins University data. The virus has now been detected in all 50 states and Washington, D.C. The number of actual cases in the country is likely significantly higher, according to state and local officials, due to testing delays and restrictive diagnostic criteria that limited who could get tested.
Tom, aka T Rex, is seasoned financial pro that cut his teeth on the Chicago trading oil futures in 1995. In less than 3 years he bought his own seat and set up shop on the exchange. For the next 10 years Rex traded his own account and some institutional accounts. In 2017, he decided to move to Florida and focus on educating traders and writing for financial websites.