RE:RE:Bte - cra
As a trading strategy, that's great. For us longer time investors, this is no "news". This was "news" in 2014 after a small acquisition and the write-offs resulting from them.
I would be surprised that any real investors that have done their due dilligence would not know Baytex were having disagreements. Happens all the time, that's why there are tax accountants.
The reassessment appeal will take years, and if they need, tax court after that will. In a few years when oil shortages are all the talk and the talk that $100 oil is "good" to get alternative fuels really going, this will be nothing because it's relatively insignificant. If this stock was trading at its true value of $10-15, then I would be worried.
Instead, i plan to buy more to average my early 2015 $18 purchase which i averaged down in the low $6s to have a smile on my face.
We this goes below $6, I'm selling all my other oils to buy this as a single stock. I'm here for the medium to long term. If I can also do short term, all the better. I appreciate all the good traders here and there are many.