Another day, another 7% dropI genuinely do feel sorry for anyone who bought in the morning of Feb 1 and thereafter for the past month... its been one big manipulated slide down. We are now at the most recent rights offering price of $1.63. What next... a new offering at $1.30 CAD? I wish I was joking with the last statement, but at this point who the hell knows.
I remember thinking that afternoon (Feb. 1) that the price stabalizing around $3.6-3.7 CAD was a massive plus.... millions of shares were traded that afternoon also! Looking back, that was probably all the money managers/insiders shorting CGX. They knew no JV was forthcoming anytime soon and they also knew that no definitive answer on oil/condensate existed either. Its crinimal really how easily these bast*ards can manipulate and cheat their way to financial success.
Then again, oil is ~$130 USD Brent and Frontera only trades at $13.60 CAD.... and extreme far cry of the $30 CAD range they started at in 2017.... De Alba and co sure know how to build a company!