RE:Can someone explain the tanking situation for Meg? I'm very long MEG and I wouldn't say that MEG is tanking, just range bound with some profit taking on the back of a great quarter and no new news/catalysts on the horizon.
I'm assuming others who are long too will chime in but we're all just patiently waiting for the next quarter or two when they announce they finally hit their debt target and switch to 100% returns... Until then rest easy or take profits and trade like the others. I personally don't day trade.
I prefer to sleep well knowing what I own... a great company staying on course hemorrhaging cash with contracted volume on the TMX, large tax pools, paying down debt and buying back stock like it's going out of style.
No news is good news sometimes, even if the reward isn't immediate. Just wait for the SIB
I highly recommend reading the post Q1 conference call transcript, hopefully it will answer some questions for you.