Post by
slipperyslope2 on Aug 23, 2022 3:33pm
Somebody must have wanted out.............
or an awful lot of stop losses just got creamed. Really weird trading all day today. Maybe we're on the block.
Comment by
Buyreallow on Aug 23, 2022 3:46pm
AECO natural gas differential is huge. Likely part of the reason.
Comment by
slipperyslope2 on Aug 23, 2022 4:06pm
Can't be AECO, everbody else is up. This is the only one down.
Comment by
Buyreallow on Aug 23, 2022 4:43pm
When oil prices rise and gas prices fall, Journey's loan payment obligations become greater. If oil is over $100 come October, they must pay $4,000,000 a month at 10%. But reducing gas prices will lower their revenue. I think that is the risk investors are digesting.
Comment by
jleer42 on Aug 23, 2022 6:55pm
Correct, but a larger loan payment results in a smaller outstanding loan. Natural gas prices fell along with the news that Freeport LNG opening is delayed from Oct to Nov.
Comment by
slipperyslope2 on Aug 24, 2022 9:00am
That makes a whole lot of sense. The stock has been stuck at basically no higher than $6.39 for a bit even though all signs point higher. I know that there is nothing fundamentally wrong with the company, it's just not acting well.