GREY:MKRYF - Post by User
Post by
jerrybeon Mar 07, 2016 11:40am
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Post# 24630054
Ready for the ride up
Ready for the ride upWell, I bought some more...man, Manitok is an addiction. I am up significantly on my latest purchase but this firm is very thinly traded...
I still can't believe they diluted shareholders at the worst time...though I would say I do not expect more bad news at this point. I think the firm has taken many positive steps to avoid any kind of bankruptcy as well as finally (!) addressing their midstream issues and taking the matter in their own hands, quite literally.
If oil were to climb up above $40, I think MEI will be able to breathe again.
Interestingly, I noted the 3M options management just granted themselves at $.16...that will compensate for all those existing that are deep out of the money. Now we know why we don't see many (if any) open market purchases from management...they serve themselves with the stock option plan.
In any case, if the firm can get its act together, then the EV of the firm should be multiples of its current valuation. It is starting to look like a much more decent risk/reward profile now than just a couple of months ago...and after forming a base, it seems to want to breakout...at these low levels, easy to get a 50%+ return on investment. High risk, high reward! GLTA!