All eyes have been on election night.
But I've been watching something else…
Something the mainstream media didn't want on the front page.
We already know about its exploding phone problem. It has an exploding washing machine problem. And as of Tuesday, it has an exploding presidential scandal in South Korea, too…
This is horrible news for Samsung – but great news for you.
And here's why…
The Biggest Story They're Not Telling You Right Now
At least one of the goals of most publicly traded companies is to see their share prices climb higher and higher. This, of course, benefits both the company and its shareholders. They'd love nothing more than for this pattern to play out, quarter after quarter, until their revenue and earnings explode.
What they don't want to see is their actual product explode.
And unfortunately, that's what happened to Samsung Electronics Co. Ltd. (OTCMKTS: SSNLF) – not once, but twice.
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As you know, the Consumer Product Safety Commission (CPSC) already recalled (and permanently ceased production) of the Samsung Galaxy Note 7 in September. The U.S. Department of Transportation and the Federal Aviation Administration (FAA) also issued an "emergency ban" last month on using the smartphone while on planes.
And now, the CPSC has issued a new recall on 34 washing machine models due to the risk of explosion – to the tune of 2.8 million machines. Keep in mind that this is just weeks after class-action lawsuits were filed.
Now the CPSC (and Samsung) say they're working on a remedy.
About the Author
Tom Gentile is one of the world's foremost authorities on stock, futures and options trading.
With more than 25 years' experience trading stocks, futures, and options, Tom's style of trading systems and strategies are designed to help individual investors propel themselves past 99 percent of the trading crowd.