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The Good and Bad of Fertilizer Stocks
It seems like it’s been years since CNN Money opined, “Who needs Google and Apple? Agriculture companies are the new ‘it’ stocks.” But it was just six months ago.
Since then agriculture stocks turned shooting stars to exploding supernovas. Leading the way down has been fertilizer stocks. Shares of former Wall Street and momentum chasing hedge fund darlings Potash Corp (POT:NYSE), Mosaic (MOS:NYSE), CF Industries (NYSE:CF), and Agrium (AGU:NYSE) have led the way down. And practically all of them have cut their production for 2009.
The sell-off has come from deleveraging hedge funds, mutual funds selling to meet redemptions, and the market realizing not…
6Jan2009 | Q1 Publishing | 0 comments | Continued
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