GREY:TBTEF - Post by User
Comment by
bshort92on Jun 16, 2015 10:49am
176 Views
Post# 23835135
RE:don't get traders stock was at 0.75 and someone woke up and
RE:don't get traders stock was at 0.75 and someone woke up and
Maybe someone woke up and rationalized that this issue was dead money that it had no upside. So they sold on the open.Imagine thinking that the previous management team ran the outfit into the ground led by the chairman of the board, rhodes scholar emeritus, grand poobah by accumulating too much debt and losing over a third of its production due to operational incompetence and then figuring out that they were amateurs in the heavy oil space. So they hired a couple of managers who under their watch lost over $1 billion in market cap at their old haunt and presto the light went on. Pair them with this disaster, do a private bought deal at $1.80 to sweeten their entry, try to transition into medium oil and bingo the shares are at .73. What a fantastic and novel concept. Who could think up such a resourceful arrangement?