No Rhyme or ReasonSo let’s go back to last year when HH natural gas prices slipped below $2 US. CREW sunk to $4.15 a share on February 22 when HH was at $2.07 US. On June 2 HH hit a 2023 low of $1.74 US and CREW closed at $5.07.
Within six months on August 10 CREW hit a 2023 high of $6.61 when HH closed at $2.83 US. My point is that there is no rhyme or reason has to how CREW reacts to HH NG prices. Since that August 2023 the share price has been on a downward spiral to where we are today.
Does CREW now break the $4.00 barrier?
It would not surprise me in the least. I have been upfront about my investment as I own well over 200k in shares and my average is less than a buck. I am now quickly approaching a half million dollar loss on paper since last August highs.
This does not sit well with me and although I am still up 4x my investment at present what really makes me angry is that we are at the mercy of a dinosaur. Dale has not been forthcoming with his plans or his intentions concerning the four year plan. His monthly cut and paste presentations are lame and not cutting it as the market just sees him implementing the plan with more debt in an environment that sees NG prices cratering now and the foreseeable future for years to come.
There is now more and more talk of an LNG glut worldwide so I don’t see how Canada will be any different. As CREW stock tumbles to a new 52 week low there is also the possibility of a hostile takeover from a company that will swoop in exactly like what happened to PIPESTONE. It could happen very easily and without no big institutional shareholders invested in CREW a 66% ‘yes’ vote by us retail investors at a buck premium would not be hard to imagine.
Can you imagine CREW being taken over for $5 a share? Just the thought makes me sick to my stomach. For those that say it can’t happen you should go join Dale in Jurassic Park. If I have learned one thing NEVER say NEVER. I am now getting daily alerts on downgrades for every O&G energy stock I follow.
Anybody also notice how no insiders have been buying at these ultra-low prices? On the previous downturns wasn’t John Brussa buying in the $4.50-$4.80 range? Well at least he hasn’t been selling……..yet.