comments on prev posts There's a ton of really good posts so rather reply to each, I'll comment on all of them here.
I agree a 50% divy cut is coming.
I agree that this is a "mini" ALA - buy a really bad asset and over-pay, sell good assets to fund it, cut the divy, have stock price languish for years, etc. Only difference is that ALA swallowed a big, ugly whale with a market cap the same size as their original market cap. KPC is a smaller percentage of original AQN market cap.
I agree there's more pain to come with year end and tax loss selling. I also think there will be a few dead cat bounces so AQN will be a good short term trading opportunity. I think $10.10 wil be a good spot to start.
I doubt we will get back to the recent $22+ price in the next 10 years. ALA peaked at over $52 in Sep, 2014 and now (8 years later) has a share price of $23.28. As I said, AQN's dumb move isn't as bad as ALA's but it's a bit of an indicator of what's to come.
Banskota is a total idiot and should be fired, It is identical to Harris taking over as CEO of ALA and running it into the ground. I'm getting really sick of these BTO (Big Time Operator) CEOs that grow the company for the sake of growing it and their bonuses.
I agree that renewables are a total joke. My wife & I were very fortunate to hop on the bus back in 2014 buying a full position of NPI and BEP.UN. I eventually realized how flawed pure renewables are for a ton of reasons and sold all of both in late 2020/early 2021 and took our $291.4k profit and ran for the hills. We hung on to AQN because it was only 30% renewables. I hope they actually sell these renewables assets and become a pure regulated utility..
We've held AQN since Nov, 2011 and counting dividends, we are still up $40k. Not the greattest return for an 11 year span but still better than GICs have been paying, We have no plans to sell any shares at this point. It may go lower but I'm pretty confident that by this time next year, it will be higher.
Good luck to all the longs and short term traders but I hope the shorts fry. :-)