Post by
TouchDown12 on Jan 18, 2024 10:19am
BIR is now a bet on NYMEX Spot NG Pricing; until it is sold.
Tough Day for longs. This company now reminds me of a sports team that is at the bottom of the standings - is facing all the adversidy at the end of the season in the hopes of making the playoffs next year. Tough sell when this season is still playing itself out with lots of unknows and uncertainty. To bad Jeff overused the 'no hedge' strategy. it paid off while paying off past debt only to end up putting it back on. I think this is now a two season (2 year) recovery story as TD spoke of; not just 1 year. I could be wrong and it takes less time but i think that is realistic. A little strategy from BIR would have avoided a lot of the pain (maybe even 40% hedged??). PEY did it so it could have been done at least in part. GLTA TD12
Comment by
robert41 on Jan 18, 2024 10:44am
Agreed let's hope they are smarter in the future they'll have to prove that to share holders this olive branch was nice but not enough I didn't see Jeff on Bnn but he should have admitted they f'd up and will do better down the road.