RE:RE:RE:why is this stock falling Eudora? that is a fair question.We profile the recent house 1 seller as a high-end retail advisor who had the name spread throughout his client book. Most institutional desks would not be as stupid to go annonymous and drive it down from .70 cent, mornic, if the guy had a clue he'd give it up to his prop desk and have them shop it. Lauratian Bank piled into this stock last aug/sept and haven't advertised selling much since then.
Look, this stock was a spin out in 2006, retail holds around 60% of the outstanding, a lot got sucked in as a dividend play during the 2010-2012 period and are underwater. Instl is approaching 30%, 10% for insiders.
We are in the market bid lower, if the buffoon seller is intent on pushing it lower, so be it. Our avg. is around .60 ish anyways, we generally hold 2-4 years on most of our positions. The company will have zero net debt by the end of Q1 2017. Line of dredit is good thru mid 2019.
We see WTI above $60 by year end and close to $80 be year end 2017 ay which time we will be in a global oil defecit.