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Bullboard - Stock Discussion Forum McCoy Global Inc T.MCB

Alternate Symbol(s):  MCCRF

McCoy Global Inc. is a Canada-based provider of technologies and equipment designed to support tubular running operations, wellbore integrity, and assist with collecting critical data for the global energy industry. It is focused on well construction using automation and machine learning to maximize wellbore integrity and collect precise connection data critical to the global energy industry... see more

TSX:MCB - Post Discussion

McCoy Global Inc > Relentless selling by BMO
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Post by Angles on Mar 07, 2022 12:47pm

Relentless selling by BMO

After a number of different firms/people took out the fifth block of MCB stock that had been offered by BMO in the mid eighty cent range, they came back with more. Another 70,000 shares offered for sale @ $0.85. This makes close to 500,000 shares offered by this firm over the last three months.

I think they are crazy and should be buyers at these prices... not sellers. However, who ever knows the real reasons why and when people sell??? I am a buyer for sure! I now make the book price of MCB at $1.42 with MY PROJECTED 2022 sales of $46 million and net earnings per share of $0.22 for a ridiculous PE of 3.7. Very, very low. I only wish I had more money to buy every MCB share they are offering.

I think any deal that perhaps may be in the works would have to be for a minimum buy out price of $1.64 for every MCB share. And at that, it is still ridiculously very cheap. I truly feel a more fair takeover price for MCB would be $2.75. Remember it has been over $7.00 per share in the past. All in my humble opinion. Do your own investigation and see for yourself. MCB has a great website and investor presentation. Plus, see all the SEDAR filings and you may believe like me.

Angles
Comment by Angles on Mar 08, 2022 12:11pm
TD Securities just took out this last block of shares from BMO. I am sure it will prove to be a great purchase in both the short and long term. Again, I wish I had the $59,075.00 myself so I could have made this purchase. I would note it has since traded a little higher towards the year's high and on the breakout I think it will start to make. In my opinion MCB is a STEAL at these prices ...more  
Comment by Possibleidiot01 on Mar 08, 2022 12:19pm
Macro forces drive stock to 52 week high.
Comment by Angles on Mar 08, 2022 4:36pm
Opps! Two blocks which total 220,000 shares now offered in the mid nineties and at a dollar.  Who has that much and why would they sell at these prices with what is going on??? Time to clean them up and move forward. At least we hit a new 3 year high of $1.06. I believe a lot higher prices to come. Stay tuned. Angles
Comment by Possibleidiot01 on Mar 08, 2022 6:17pm
If you go to morningstar.com . you can get the fund ownership which is about 20% and is 3 different Fidelity funds and Burgundy (over the 10% reporting threshold - nothing on sedar yet). Morningstar reporting dates are December 31, 2021 and January 31,2022 so fairly up to date. These funds have held for years so I doubt they are the sellers . Angles, as you point out sizable blocks of shares keep ...more  
Comment by Angles on Mar 09, 2022 10:26am
Very puzzled by who is selling all these shares through BMO? It will now be over 700,000 shares offered for sale. I too have been checking the 4 large fund holders and also have seen no reports. I have talked with management and they say it is not them, nor do they know who. Plus, many of these shares have been offered in quiet trading times, so it can't be them. I am not sure how many ...more  
Comment by Angles on Mar 09, 2022 1:23pm
Make that 750,000 shares offered for sale in total now. Are these people idiots??? They just added another 50K for sale @ $1.05 after good firms like Raymond James and National Bank completed taking out the last two big blocks @ $0.95 and $1.00. Both these firms have good energy analysts and I am sure are advising their clients currently about all the good that is happening at MCB and what ...more  
Comment by paradini on Mar 09, 2022 2:35pm
I can see them selling at 1$ if they were lucky enough to buy when it was down in the .40s.. I am happy to see the 1$ dollar mark, I am finally in the black again, after being down over 50k.. I see this stock potentially hitting the 2$ mark as drillers will surely be spending money fast to get things moving production faster. With current oil prices the is little to no downside on MCB.. the BMO ...more  
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