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Trading Ideas from the Hammerstone Community Based on Breaking Data
| 10/16/2021
$IP (International Paper, Co.)
$WRK (Westrock, Co.)
Summary:
Every Friday morning the paper industry releases data on weekly containerboard production. Shortly after the data was published, a trusted Hammerstone subscriber mentioned that he had shorted the 2 largest containerboard producers due to weak containerboard data. A half an hour later, Hammerstone added a comment on that data from an “axe” in the paper sector, XYZ’s A. Smith. While both the shares of International Paper ($IP) and WestRock Co. ($WRK) had already begun moving lower at the time of the 9:35am post, the stocks shares still had more ground to give. $IP shares fell another 3.6%, notching intraday lows mid-afternoon and $WRK shares lost an additional 4%, closing on lows of the day.
The MarketTalk and Hammerstone Institutional news feeds welcome input from trusted subscribers who add value to our chat rooms with breaking news items or trading ideas or scenarios. All posts are strictly monitored for professionalism.
MarketTalk:
09:35:00 am $IP $WRK xxx – shorted some IP and WRK, containerboard data out this morning was worse than expected – ( trader )
The MarketTalk and Hammerstone Institutional news feeds welcome input from trusted subscribers who add value to our chat rooms with breaking news items or trading ideas or scenarios. All posts are strictly monitored for professionalism.
MarketTalk:
09:35:00 am $IP $WRK xxx – shorted some IP and WRK, containerboard data out this morning was worse than expected – ( trader )
10:04:36 am $IP $WRK, $PKG, $GEF falling across the board as XYZ noted Q3 containerboard data came in below expectations saying, “the data itself is underwhelming by any measure, and not supportive of a fourth price increase”.
10:14:06 am $IP $WRK $PKG – the above quote is by XYZ’s paper analyst A. Smith, considered the “axe” on Wall Street in the paper sector, in a Bloomberg article today
