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W.R. Grace (NYSE: GRA) closed at $26.18 Monday.
In a hearing scheduled for mid-January, GRA lawyers will attempt to persuade a Delaware bankruptcy judge to value worthless tens of thousands of claims stemming from lawsuits against GRA, which used asbestos for fireproofing products.
GRA February option implied volatility of 61 is above its 26-week average of 57 according to Track Data, suggesting slightly larger price risk.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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Reader Comments (Page 1 of 1)
1-10-2008 @ 3:14PM
A Watt said...
SELL YOUR STOCK!!!
They're not worthless claims, the company concealed information which caused the deaths of hundreds, and thousands more are sick AND DYING because of Grace's priority to make money above all else. A tragedy thats only now coming back to haunt them.
Google GRACE ABSESTOS LIBBY and see for yourself.
Sell your stock if your smart. Anyone who knows the details of this scandal (which Grace is finally having to face now in hearings) will want to see this company sink.
What they did was inhumane, just because GRACE bought the media to ease the minds of stockholders doesn't mean they wont go down in flames.
SELL YOUR STOCK NOW!!!
1-22-2008 @ 11:42PM
Mike Crill said...
As one of the walking dead from Libby Montana who worked for those murderous bastards for which I am dying along with a town and thousands of people.They say five generations will suffer before any change is seen.I know three generations of my family were told in 1999.Their is no justice to even the score but atleast those of us alive and dying could injoy a little life instead of living on SSI and dying in debt.They did this to me and all of us knowingly and even today, since 1999, over 200 people have moved to Libby being told/sold that Libby is a safe place to live and raise a family. This is a deadly lie. This is why I tell all I can to stay away from Libby and tell others that Libby is not a safe place for anything that breathes.WR Grace deserves all they get and the share holder are just as guilty as WR Grace for financing their deadly exposure of asbestos to me and millions like me.Being I am dying I wish someone would pay me for what they did to me,before I die.Sure would be nice.