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Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil recoveries through the application of water flood technology. The key properties in the Central Alberta Light asset include Wilson Creek, Ferrier, Killam, Drayton Valley, and Chigwell.


TSX:GXE - Post by User

Comment by oilisswellon Jan 04, 2024 12:48pm
92 Views
Post# 35810794

RE:Shorts having to pay the dividend

RE:Shorts having to pay the dividendMost everyone agrees that the dividend is not necessarily a wise decision, but the fact is that anyone with short shares hasn't made anything, yet. They first must cover. Consider that on Dec 22, 2023 there were 4.4 million shares short, and now there are 7.2 million shares short, I would say that waiting for the share price to drop below 64 cents while paying interest and dividends, in order to make a profit, is foolish. It would take a couple of weeks to cover that many shares IF they caould purchase all of the available shares.

So while those that initially shorted are likely covered, those now holding shares short must be getting a tad bit nervous as the share price stays range bound. You can hold your shorts and wait, try to cover now, or hope that the share price falls further. Good luck.

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