New BUY Recommendation: Boots & Coots IWC
As third and final stock in my “3 stocks for 2009”-series, I picked Boots & Coots International Well Control Inc. (NYSE Amex: WEL).
Boots & Coots is a familiar Company for many Smallcaps.us followers. The stock was featured once before on May 8th, 2004, as it was recommended by my dear friend Bill Mathews, editor of The CHEAP Investor at $1.38.
The stock continued to decline the first couple of months after Bill’ recommendation, but started a long way up afterwards to peak at $3.19 (+ 131%) in August of last year.
Along with falling oil prices, the stock began a sharp decline to a level of $1.14 today. So I figured it was time to re-analyze the Company to find out if this decline was justified. I discovered quite a nice surprise: my low-risk stock for 2009!