GREY:LSTMF - Post by User
Comment by
JohnDDon Nov 09, 2011 8:13am
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Post# 19221389
RE: RE: RE: RE: PBN is going to 15
RE: RE: RE: RE: PBN is going to 15Al42, my understanding is the lower production and lower oil price in the quarter resulted in the lower numbers. To me this just reconfirms the vulnerability of the company to lower oil prices and operational problems. In my view, the company needs to improve their financial discipline and balance sheet.
They were buying back shares north or $20 about a year ago, but unable to buy back a single share when the price was well below $10. They did not have the financial muscle to capitlize. Since the shorts knew this, they could drive the price even lower in my view.
Also, pre-market usually means nothing until a minute or 2 before before the market opens. This applies to many if not all stocks..Watch sometime how much the bids & asks change from an hour before to a minute before and then what it actually opens at.
John