RE:RE:RE:RE:Any day ?To some degree, we still move with oil, which took a rather significant dip today. If anything, I'm impressed with how well BNK kept it together. That said, I do expect an uptick in volume/price towards the end of the month since that's when we typically get peak optimism. If there's no real news then we'll flutter back down again.
Understandably though, not many people want to bag hold this stock, especially at these levels, for a potential 13% gain. We have quite the bull market run going on right now and it wasn't hard to make double digit gains
over the past few weeks while waiting for some relatively unknown Chinese company to buy BNK.
That said, I do think this deal will go through partly because it's such a steal for over 20 years worth of assets/reserves. There will always be boom and bust cycles for oil and it only takes one boom and this company pays for itself -- do you think we'll have a boom within the next 20 years?
BNK did their homework on Geo-Jade, 20 mill is in escrow, we have multiple approvals, and we're just waiting on SAFE. No one knows what's going on with SAFE. Geopolitics? The fact that Geo-Jade is on an acquisition spree? I'm not sure, but I do believe we're on the tail end of all this.
In my eyes, every day that passes means we're closer to closing. Personally, I'm in and out of this stock all the time, either parking money or trading for pennies and hoping I catch the buy out news.