Baytex Energy Corp T.BTE

Nugget Capital Partners says Baytex has major overhang

[EstevanOutsider]

Thanks to Juniper.

Link:
https://nuggetcapitalpartners.substack.com/p/significant-shareholders-who-want

" We see the remaining overhang as a likely negative dark cloud over the stock that should lead to underperformance. It is reasonable to expect Juniper to use any ‘hot’ retail bids to market the next trench. With $451 million worth of Baytex shares, the impact is likely to felt by extended underperformance without a single large taker of shares."

[masfortuna]

No kidding.  talk about pointing out the obvious.

[dllscwbysfn]

They are investors though. Will they sell them at a loss? Do they dump them and drive the price lower? 12% of shares is only a hair more than BTE plans on buying back by the end of next year. BTE will perform more according to the price of WTI than anything else

[riski]

If Juniper is selling them - which is a fair assumption as this was the primary driver of the merger for them - then there is almost certainly already a buyer of the block. They are not going to leak them out to the open market over months. This is pretty amateur analysis. 

[riski]

To clarify, the amateur analysis is from the Nugget partners firm, not the questions from our fellow poster. 

[Antonyius]

Not this nugget spam again, I already pointed out last time that this "firm" consists of a singular guy with blog posts.