Couldn't happen to a better company. Jim Cramer recently called Monsanto "the worst stock of the year."
The company’s stock, which rose steadily over several years to peak at around $140 a share in mid-2008, closed Monday at $47.77, having fallen about 42 percent since the beginning of the year. Its earnings for the fiscal year that ended in August, which will be announced Wednesday, are expected to be well below projections made at the beginning of the year, and the company has abandoned its profit goal for 2012 as well.
The latest blow came last week, when early returns from this year’s harvest showed that Monsanto’s newest product, SmartStax corn, which contains eight inserted genes, was providing yields no higher than the company’s less expensive corn, which contains only three foreign genes.
Yeah, I wonder how many farmers were coerced and strong-armed into buying SmartStax, only to find that the previous generation was basically the same.
Pity party for Monsanto. Awwwwww.
Actually, serious pity party for all of the farmers they've scammed. Seriously, I hope there's a massive class action suit against Monsanto for the SmartStax.