Post by
dbeaude on Nov 22, 2013 3:00pm
A very wierd stock.....
So the stock surges up to $1.44 today on eternal optimism. Evidently some folks were buying the stock at over $1.40. Then the conference call and about a half hour into it, suddenly the eternal optimism turns into doomsday nigh at the door! And then the panic selling starts....This has got to the strangest equity and the strangest following (save a few decent posters) in the entire venture index....Cultish like groups concocting mind withering hypotheses based on perpetually leaky company governance interposed with their own wild ass imaginations. Likely now back from $1.44 to $1.00 in a matter of days. The entertainment value here is priceless! At least there is some consolation prize
Comment by
Claired on Nov 22, 2013 3:06pm
It's not weird. It's an oil company in Nigeria with a very good chance of increased long term earnings growth, a great track record for profitabilty, and continued expansion plans and excellent business operations in Nigeria. The volatility is due to fear of the nigerian political landscape and perceived and unexplained risk over operations there.
Comment by
Treetop2 on Nov 22, 2013 4:22pm
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Comment by
elmri244 on Nov 22, 2013 4:59pm
There is a few longs, lots of day traders and paid hungry shorters. Those with intelligence and patience make more money.
Comment by
Naka2112 on Nov 23, 2013 9:41am
I thought I read somewhere that MMT does not have enough cash on hand to pay the divi, and that they will have to use borrowed funds. Can someone confirm or refute this? Thanks