Post by
malx1 on Jun 10, 2021 12:45pm
Ain't seen $8 since pre-pandemic panic; glad you stayed!
Last time we were at $8, oil prices were stuck in the $50's as North America choked on oversupply brought to market form US shale producers. A pandemic panic induced recession cleaned up that oil glut and instilled so much fear in the hearts of E&P executives that they've finally figured out break-even is $70wti for a shale barrel and that it's better to be solvent while maintaining production rather than bankrupt and growing production.
Big wake-up call across the board. Heavy debt/leverage is the killer of businesses when times get tough. GH has been conservatively managed the entire time, that's why they weren't forced to sell-out like big brother Great Canadian Gaming.
Thanks to all who provided supportive ideas and input along the way. You likely helped other investors buy GH shares or hold onto the shares they owned.
Hats off gang. Time to sip a beer and look back at the battle we just went through.
See ya'll at $10+ over the next 4 quarters.
Looking forward to a Kasking guest appearance at Great Northern or the Deerfoot!
Cheers
Comment by
Kasking12 on Jun 10, 2021 2:03pm
Y Yes I was there before the opening, people were milling about when the doors opened , there was a steady stream of people going in.
Comment by
malx1 on Jun 10, 2021 3:11pm
Looks like the comments from Kasking have buyers lining up to get their GH shares at $8+ People who sold at $6 now buying back at $8 Cats are living with dogs
Comment by
malx1 on Jun 11, 2021 12:35pm
Risk-adjusted-returns are important. Anyone who grabbed GH in the $5's has got to be a value investor through and through. Glad you're a shareholder! Just imagine your cash-yield on the $5 shares will be +10% if they are paying $0.60/yr. Impressive. Stick around. Kasking is providing hour-to-hour updates from inside the Great Northern!!