GREY:VFGGF - Post by User
Post by
snubbin954on Jul 31, 2013 2:54pm
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Post# 21641993
options
optionsA lot of the members had options at 1.70 as I recall. I see both sides of the equation though. Clearly, it helps the company to have control of outstanding options back, as well as an opportunity to offer new options to a undoubtedly disheartened team. But the only reason they would need to do it is because they know full well that at that price, they're not likely to be worth anything anytime soon. I'm not sure that saying they 'cashed them in' is the right way to look at it.
Anyway, Canaccord's update is the most recent I've seen with a target of 1.25, which would explain why their clients are mostly on the buyer's side these days. I glance at the action only occasionally, but most buyers appear to be institutions on significant volume for the last 2 days, which suggests PRY is drumming up new investors and contribute to forming a bottom. On the other hand, the fact that there's downward pressure just 2 weeks before financials (while WTI is going up) is concnerning, in spite of traditional/seasonal activity swings. JMO. Does anyone have fresh data or know of any other catalysts in play since yesterday?