CGX board incompetent
So this thing was .13 cents one year ago and in the arrogance of the board, they instituted a reverse split.
It then became $1.30 after the reverse split. CGX claimed that the reverse split was to accomodate Institutional Investors.
In real terms this stock is now .045 cents!
For the blogger/day trader who said he wanted to sell, doesn't matter if they walk it back to $1, my advice is SELL; you're 100 percent from the bottom already. You've doubled your money!
For the CGX management, some of you owe long term shareholders an explanation...
Your job is to take this SP back to at least .13 or rather $1.30
Please, Please, Please don't come her with mumbo jumbo....just look south and see how Share Prices are in the upper stratosphere all because of QE and financial engineering. C'MON....
City Bank is a Zombie Bank as are many of those banks and insurance companies, including Manulife, all drunk with QE money.
And for all those persons listening to the so-called "know all" advisors on BNN, switch off your TV. Where were they in 2008-2009?
And as for that fellow (Mr C....) who comes on BNN pumping CGX, well go figure.....
PRE, you got CGX for nothing....and the Guy Gov needs to look at this thing again. Yes PRE you have gotten a top class company, built from scratch, on the backs of long term shareholders. The only reason CGX came down is because they over extended with two wells without taking proper precautions about the vulture with whom they were involved.
Oh Well... so much for this rant.....
This CGX thing needs someone like Carl Icahn or the pershing square fella...Ackman!