Canacol Energy Ltd CNNEF

Well good bye to bad rubbish

[marketdiva]

Just jettisoned my entire position ; don't know what I was thinking buying a mid cap with such a poor long term track record ...I hate taking a loss but I hate being trapped in turd sandwiches too ...we'll see if they can stop the bleeding before $3

[marketdiva]

Not only does it have a bad long term track record; look at the last year during such a smoking hot oil and gas market ? ......all lines point down ......the most concerning fact is nobody is really stepping up to buy shares as it continues to stagnate ....no insider purchases from mgmt , no interest at all .....I'm smelling a proxy fight or something rotten underneath the surface....  

[Greyballs]

Have you ever taken time to look into the backgrounds of the founders? Here is a fun little clipping on Luus Baena former Board member and co founder. https://www.google.com/amp/s/www.semana.com/amp/el-escandalo-contratacion-tras-pista-del-dinero/123840-3 Tik tok

[Greyballs]

This one is even better https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.usergioarboleda.edu.co/wp-content/uploads/2015/04/PDF-2.pdf&ved=2ahUKEwjGtLmU9KzyAhXYJzQIHXNdBHYQFnoECAQQAQ&usg=AOvVaw2Ocqog5TYsKelpjCe2XnVM Tik tok

[marketdiva]

can't open the link / or it's blank ...maybe you can summarize ? 

[dirkelozado]

It is not Canacol or Gamba factor problem. Its the Colombia stock market in general. It liquidity has fallen to low records, the Stock market is barely traded,  10 million dolar per day on average por the last year. The contry lost its investing grade this year, and also next year is presidential elections. Lot of things are happening with all the market, the banks are pretty cheap, in fact

[oilwatcher13]

Clearly you have no clue blaming the Columbian Exchange for the 10 year performance of CNE... are you related to GAMBA or one of his cronies....lol JMHO

[dirkelozado]

Have you reviewed the performance of the Colombian market? Recent business results have been excellent, but stock prices are unresponsive. Of course management performance matters, but so does overall market sentiment. In general traders have the feeling that this market is a value trap.

[marketdiva]

Dirk your point is valid for the past 6mon - year ....but what about the 9 years before that ?  

[dirkelozado]

Look the charts. check the ETF GXG. There are a lot of value in the stock market, but the institutionals have been in the seller side.  Check the COLCAP index wich is the Colombian index. I am not defending the directive, i am just saying that market sentiment has a lot of blame in the last decade.

[dirkelozado]

Well, as Colombian markets have improved, cne has moving up since the start of the bullish trend. Now the market sentiment, besides the latest news and the  Price Target Raise has put the movement all we were waiting for. but take a look to the etf GXG, it will show where this movement will take a rest seems south america is on fire now... bull side

[redcoats]

And now they're talking about oil prices causing industry to switch to gas, putting even more upward pressure on gas prices.