RE:RE:RE:RE:RE:Bad newsThat's a good question...why?
You mentioned some valid points and I agree that we're in a secular bull market (which should last several years).
A couple of other reasons why the stock isn't performng well could be:
(a) macroeconomic environment - we're heading into a recession and as they say, "a lowering tide lowers all boats."
(b) Although Maquire hinted at a lot of potential business thereby getting all rigs into service within the next couple of years (or sooner), there is currently only 1 contract for drilling (rig 103) solidified, starting this quarter. I believe that once subsequent contracts are announced, then we'll start to see significant appreciation in the stock.
Meanwhile, shareholders can enjoy a ~4% dividend while waiting for contracts to materialize; moreover, investors can consider doing one's own DRIP - i.e. use the cash dividends received to buy more stock. As you mentioned, the risk:reward ratio is pretty low at this point however, things can change on a dime. Fingers crossed. :)
Cheers,
JJ