My theory about all the sellingLate las year, I ran a graph of the CJ stock price and overlayed it with the graph of CPG. I think the time period was since June 2018. The graphs matched almost exactly. Every junior E&P is sinking.
Anonymous is buying and selling, but much heavier selling than buying.
This says to me that fund managers were dumping the junior E&P companies. This is consistent with what the guests on BNN were saying about avoiding the Canadian oil companies. The pipeline court decision ruined it for everyone.
But the fund managers don't make the decisions entirely. If mutual fund owners start asking to redeem their fund, then the fund manager MUST sell. And they sell everything, not just CJ.
It looks like a bad idea to terminate the dividend and buy-back stock instead. CPG broke through their old lows when the did that. I hope GJ doesn't go that route.