RE:RE:Nothing NewKherson wrote: Kings_kid wrote: Good morning!
I agree with the posts that are discussing there is something odd happening with SGY, I actually wrote a few posts on it several months ago. I really cannot say that I understand the trading right now. SGY is a stock that I have heard for over 6 years now in some capacity, but the last 3 months seem different. There are a few possible reasons, however I really cannot say in anyway I know what is going on or have an understanding of it right now. Below some possibilities:
1. Simply a company going under the radar and no big money buying SGY, allowing the shorts to win on only retail buying.
2. There are plans behind the scenes for a buy out/merger and the stock is being manipulated.
3. There are some traders close to the company that feel something is or has gone wrong, Wells comin up dry, debt ballooning, credit being challenged. To be clear I don’t believe this is what is happening, just throwing out all possibilities.
Cureetntly I hold the most Shares of SGY that I have held in the last 6 years and it has grown to my biggest holding. I do feel there will be a very nice reward in the end, and i’ll Collect my 7.5% monthly while I wait.
By my calculations using closing price yesterday, SGY is collecting $77.17/ barrel Canadian for its production. At that rate SGY is basically printing money!
Have a great weekend! Good luck to all the longs!
Kid
I agree with scenario #2, Buyout!
I base my opinion on what I have been seeing with this stock on the trading side, which closely resembles the walkdown and takeout of Daylight Energy by Sinopec 7 years ago and just as important to me, the opinion by Eric NutBar 6 months ago, to avoid this stock!
Takeout price should be around $3 a share. I am basing my assumptions on the metrics of the Daylight deal. Daylight closed at $4.59 a share on a Friday and on Sunday the offer was made for $10.06 a share!
By the way, I loaded up yesterday!
Kherson
After today's price movement, anyone shorting this may want to cover their position. Having had a front row seat on the Daylight Energy takeout and being fully aware of what really went on behind the scenes, a lot of folks who jumped on the "short bandwagon" late, lost their shirts!
Kherson