Wednesday, March 25, 2009

ProLogis - who's right?

So where is ProLogis going - back up, or to toast city? We saw its stock pull a GGP last year, going from ~$66 to ~$2, and it is now trading in the $6 range.

CPN has a story today about the company pocketing money from selling its China operations and other activity that is making strides to reduce debt. The story goes on to talk about leasing activity, executive changes and everything else the company is doing to improve. By the time I finished the story I felt like this: link.

On the other side, you have Richard Woon, who was bearish on ProLogis last year and presumably made a lot of money going short on the company. Good for him! I need to do that more, but I do not have Richard's analytical skills. His takes on the company are here; while he has a new target now I'm sure he still has strong feelings about ProLogis. (And Richard, if you are reading, I welcome you to chime in with any thoughts.)


CountingSheep said...

USC Cheerleaders?

I was hopeing for something better than that. But, I suppose now I know where to go if I am ever looking for someone when I make a bet against USC in some football game.

Richard Woon said...


Nice to see you're still following ProLogis. To be honest, I've stopped the hardcore fundamental analysis of PLD. I know enough of their books to short it very comfortably at any price.

However, from a technical analysis perspective, I'd say PLD will test $3.88 in the next quarter. If it busts through that level, it's destined to be a drillbit (5/8 or 7/8) sooner rather than later.

I hope you're doing well and I hope the Dirt Lawyering is better in Chicago than it is on the west coast.


David Stejkowski said...

Better? They are not cheerleaders. They are Song Girls. :) And I never bet on USC.