RE:CPG Lowest EverFirstly I am not supporting CPG and find them to be misguided during this downturn. But I offer the following response to Uppers...
Well there are many ways of looking at the efforts of yesteryear. If all things being equal would you rather CPG issued $45 stock to buy someone or pay cash (available or debt) at that time? I hear what you are saying and CPG just simply went too fast. Its about living within your means but if you recall 3 years ago oil was $100 and no one ever thought it was going down so I can see where they were coming from. They are down 39% YTD and doing absolutely terrible and it is the management of the downturn that is causing that. We are all selling the same oil it is how you conduct your business on how the market interprets you. CPG can not sustain itself at $44.55 per barrel they way they are running right now no matter what you read in their news releases.