Post by
monte8 on Apr 17, 2023 10:02am
Re. Proposal to Reverse Stock Split
I would agree, the reverse stock slpit will allow the stock price in going down further. The stock buy back has done nothing for shareholders value. In fact the stock price has fallen. Look where we are at $80.00 WTI. $1.20 per share. Last year when WTI was $80.00, we were $1.85 per share.
Alot of good the share buyback has done. Now they want to propose reverse stock slpit so that the share price can fall even more!
The company execs and their dirty friends can then come in and take tis company private. DON'T APPROVE A REVERSE STOCK SLIT!!!!!!!!!
If we're making money and paying down debt then, no need for the reverse stock split! Rather , why not reward longtime shareholders with a Special Dividend !!!
Comment by
Bimmaxbro on Apr 25, 2023 9:34pm
You read my mind. I've seen that happen before with reverse splits. They need to figure out why investors are staying away. PXT.TO also is a Colombian focused oil company, yet their SP is up. Difference is they pay a dividend.