Could Reason For Dip Be An Equity Raise?With the company having completed a very successful project in the SASB and with the 2Q earnings report (which will be quite positive) being just a week or 2 away, it makes no sense that this stock would be down to where it is now. I know there has been some big insider sales recently which would maybe explain a small dip but not as much as has happened.
Has anyone heard whether the company might be trying to do another equity raise? They announced 2 new projects last month, each of which are going to need big bucks to be done right. They are certainly generating some cash from their SASB wells but not in the amounts needed to fund these 2 new projects.
I believe that there could be some current TCF shareholders who have been approached to participate in a new equity raise, who are dumping their current shares in anticipation of being able to buy back shares for less money in the raise.