Who knows indeed. Currently the market cap is $143 million which, when you take out cash reserves, values the more than a billion tons of phosphate (in theory worth one trillion dollars) at zero.

It has to be fear that they won't raise the necessary capital with the credit squeeze. But nothing explains such an over-reaction. Mosaic's conference call cited India's need for phosphate. In don't think we're crazy just we are living through a crazy period. Thanks for the company - I was feeling lonely in the boat there for a while!