Not Really.
Just look what happened back in July thru September when the SP got slammed by over 40% from a high of $7 down to $4. Then notice how it jumped back up quickly to recover half of what it had lost within the next couple of weeks!
I contend we're seeing another shake-down from the major brokers who hold a lot of Arcan stock & can manipulate it.
I say that the MM's are having a heydey here. They see how far they can drive the SP down, taking out all the sell stops so that their other broker buddies can buy them at 30+% discount for them & their clients.
It happens all the time! And they do it so discreetly that it is virtually impossible to prove any wrong-doing.
But maybe I'm just being paranoid.
Eric Nutall on BNN this week re-iterated Arcan will get bought out and gave a $7 buyout price. He said they were producing at 6500 boes, and expressed some concern that they won't be given fair value for their reserves, as Midway's takeover offer was priced based only on producing boes. But I just can't see that happening given Arcan's vast land base.
With no news one can only assume that Arcan's operations remain on-track and this correction would pose an excellent buying opportunity.
Of course I could be wrong.