TSXV:CART.H - Post by User
Comment by
JustforFun7on Sep 03, 2021 2:15pm
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Post# 33810117
RE:RE:RE:Drilling
RE:RE:RE:DrillingThe improving natural gas prices and sale of the interest will help stabilize the financial position of the company which would normally help raise the share price. However with the death of the CEO who held so many shares, a very large overhang on the share price has been created, Until that overhang is gone, the share price may get some upward movement on price short term on any other good news but it will quickly return to this equilibrium position until the overhang is done.
Either the overhang shares are sold in the market in dribs and drabs for months / years or management works with the estate to find a buyer (who would certainly pay less than 2 cents a share on average), The other more realistic possibility is getting bought out by our partners. The slowness to replace the CEO may be a sign that this is what is happening or it may simply be a delay until the financial position of the company can afford to pay a new CEO.
Just my thougts.
JFF7