GREY:WFREF - Post by User
Comment by
HamSandwichon Jun 18, 2016 12:56pm
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Post# 24977047
RE:What happens if the deal doesn't go through????
RE:What happens if the deal doesn't go through????Chemdog wrote: i bought this months ago as a contrairian play on oil recovery.
This stock used to move with oil. No its stuck in the mud with this Chinese deal, that might or might now happen
will this start to trade as it use too if the deal falls through???
Its too bad because this was going to be a good contrarian play, but now..its dead money
any comments????
Yeah, my comment is you don't know what you're talking about. Through all of 2015 this stock was on a negative slope with only a couple of mini rallies. Once the stock tanked it was trading based on bankrupcy risk, not the price of oil.
Then the deal was announced in late December and since then its traded on the back of a buyout.
This stock has been completely decoupled from oil.
If you're looking to trade stocks as a proxy for oil you don't look at companies being flogged for a buyout or those that are bankrupcy risks. Go play around with CPG or something.