RE:When Nuttall discovered PIPE He mentioned it on BNN two months ago:
https://www.bnnbloomberg.ca/video/eric-nuttall-discusses-pipestone-energy-corp~2251600
In August he added at least 1.2 million shares so now 2 million in total.
I suspect he'll try to buy shares off one of the institutional sellers who received them from the breakup of the CNOR position.
It will be a huge boost for Pipestone shares if he ever adds it to his picks.
Last month he noted a "$500 million Montney" producer who he was impressed with at the oil and gas conference. Could have been Storm or Pipestone.
navajojoe wrote: It appears that he didn't consider PIPE worth mentioning until sometime in July, then started putting it on his charts. But I have never heard him mention it once. PIPE is a very difficult stock to accumulate many shares, and he has mentioned that he likes to buy in large quantities. But if he ever does get a full position, you can be sure it will be brought up on BNN, and that would probably result in a decent bump higher. Very few BNN watchers have ever heard of this stock, and it wouldn't take much of a look to get them excited.
But like I said, Nuttall is a trader and might take that opportunity to lighten up, which would obviously cap any rally. But if he was as smart as he thinks he is, he would hold for the longer term. I don't know of any producer with a clear plan to very agressive growth funded 100% with cash flow, and putting out free cash flow to pay down debt in the short term, pay dividends in the medium to long term.
PIPE is a keeper, no matter what.