Something doesn't add up with ATH !!!A number of posters have commented quite clearly about the mgmt of ATH and all that has gone on. I fully understand their frustration.
Since oil bounced off the 44 dollar level, energy stocks in general moved up accordingly and have settled at higher levels. Ex: COS, bottomed in the 6.00 range and has since been trading in the 9-12 range.
ATH has done no such thing and is in danger of re-visiting the 52wk low. Something is not adding up. The chart has been flat for 6mths. Some suggested the stock is under accumulation and will soon pop. I like that theory, but rather than popping, the opposite had occurred.
I realize the short position is large and at some point the people willing to sell at these levels will dry up and the stock should move up. BUT, why hasn't the stock managed to base at a higher level ? That's my main question.
ATH has more than enough cash to survive this period and is not in danger of bankruptcy. A buyout offer by a competitor would not be accepted at these prices. Major shareholders would frown on a cheap offer.
Something is not adding up !