RE: fabrice did a great job of wining and dining m Actually CALGARY the biggest, most influential Mega Pumper on this board has been THE ROCK. This poster probably induced all too many inexperienced investors to jump on the ABM rocket late last summer and last fall. Were you one of them by any chance?
Mainly it was the exponentially rising earnings reported by ABM and especially the future earnings thrown out be the pumpers like THE ROCK which got ABM into nose bleed territory well over 2 bucks.
So now the chickens have come home to roost.
Do you recall CALGARY when last fall I was trying to point out that WAY TOO MUCH__like over 30%__ of the reported earnings were coming from the work camp fees__ not the actual fees received__but the projected fees ABM anticipated getting?
Now ABM is coming clean and doing a significant write down of these work camp fees and also reducing the fees expected going forward. Well this sure looks like shutting the barn door after all the horses have escaped eh? That is after millions of shares were dumped into the hands of eager retail investors at well over 2 bucks by all the pumpers and likely some insiders!
Could be what actually got ABM management to do this write down of the work camp fees might be the MEGA scam along the same lines perpetrated by the fallen market darling Poseidon Ventures?
Anyway now that pretty much all the wind has been let out from the ABM bubble you could expect the share price to recover back up to the 1.20 support level which has been badly breached today. And YES there is the Frac Sand potential__so let the pumping begin once again! LOL!
Recall CALGARY how you LOL when I suggested last year that 1.20 was the fair value for ABM taking into accout the questionable so called revenue/earnings form the work camps?