RE:People get nervous very easily...Their credibility has nothing to do with financials. This stock has a reputation of being easily manipulated, and the company itself has a terrible track record for keeping its results under wraps. The push to 5.20+ last month, and the sizeable drop off this week - all with next to no material news - just screams "something still smells".
There were some big drops yesterday for a few Colombian oil companies (PXT, GTE to name two) - but none have been clobbered as much as CNE has been. I am grateful for the opportunity to get back into CNE at what I consider a very good reentry point (the same price I bought in at 4 years ago, and I believe in the same time frame as well) - but at the same time, it's another sad reminder of how CNE has faltered. With the shale-oil a virtual non-starter, and with their heavy oil assets doing nothing except growing cocoa, the success of Leono is absolutely critical to the success of CNE. The worst part is that those with the inside track will know well before you or I do.