RE:shareholder meeting two weeks from today
Why load up, your logic is wrong. This stock has a limited upside in case the deal goes through. This stock is capped while other stocks are breaking out.
PGF popped $.29 in one single day today. When the oil hit bottom PGF & BNK were trading at pretty similar prices & bottom for both the stock was close, matter of few cents. Today PGF closed at $2.43 with intraday high of $2.48
BNK is not going to get 99 % approval. I hope it does not even get 66 % approval. Management sold out the long term shareholders who will incur huge losses.
If this deal does not go though because the shareholders reject the deal then they should go after the CEO & kick him out for selling them out.
Oil has bottomed and will go higher. If BNK is not taken over it will eventaully see better days. I would understand the urgency of take over if this company was in a similar situation of LTS, TBE or LRE. There was no risk of bankruptcy for BNK.
Not a good management in my books who cut a deal a the bottom of oil cycle. Premium to the rock bottom price when the stock was crushed.