On August 14 the volume was 15,600,000. The offering had to have been sold out within a day or two and the x-div date was the 20th. On the x-div date the price didn't drop $.70 or $.80 it dropped $1.75 (close to close). Most of the new owners hung in there until Sept 5 with no sign of recovery and since then they have been bailing out. No telling where it will stop but I have started buying.
Hopefully we all realize that there will be additional secondary offerings of the overhanging stock and we should expect additional 4% discounts and this scenario will play out again to a greater or lesser degree. But, the advantageous crude pricing enjoyed by NTI and the probably advantageous marketing structure enjoyed by NTI are powerful incentives. On top of this all is the fact that with crude at $108 many of our fellow investors want nothing to do with a refinery stock so the potential for new money coming to NTI is very slim.
Let supply and demand work its' magic and maybe we can sneak away with a bunch of money
Sentiment: Strong Buy
Why, are you long? Reverse your position right now, open up your account in 3 months and then post me a thank you...
join the boat. I can't do it unless I copy info from the links. Sometimes I make it through and sometimes not. we have quality people here that does the work for us :)
9 million fewer people have jobs than when Obama fist took office and now he wants to shut down in entire industry and eliminate the cheapest source of electrical energy. The president is waging an all out war against the middle class.
For lying, you mean? What was that 20 years ago? When did Barry apologize for being stupid?
Traders were definitely knocked out of the stock yesterday and today. Swing traders may have bailed as well. Longs with weak hands are probably gone, too. Not to mention anyone not belonging to one of those 3 groups who had stop loss orders set. Today looked like a deliberate attempt to shake longs out of the stock. As I mentioned in another thread, NVAX had the same thing happen today. They nearly completely recovered from their bear raid, though.
Love the guy who just posted he bought a truck load 20,000 shares at $2.40 LMAO!!!
On these things, the only thing I've ever been able to use to guesstimate offering size is the expense level they list in the preliminary prospectus. Fees are usually correlated with the size of the offering.
For the Dec 2012 offering, which was something like $24 million gross, the expense line read, "We estimate that the total fees and expenses payable by us will be approximately $275,000, which includes $125,000 that we have agreed to reimburse the underwriters for fees incurred by them in connection with this offering."
For this, and keep in mind this is a draft and may well change, the same line reads: "We estimate that our total expenses of the offering, excluding the underwriting discounts and commissions, will be approximately $335,000, which includes $125,000 that we have agreed to reimburse the underwriters for the fees and expenses incurred by them in connection with the offering."
Again, this is hardly conclusive, but based on this, one would expect this offering to be at least as big as the one that had somewhat lower fees.
I'm going to guess they'll look to raise $30 million gross. If they can get that done at $1.90 per share, that would be a very successful offering. If I had to wager on it, my under/over would be $1.75 per share.
Turt I am confused about the 8150 placement as is everyone else. But I do think that what ever the plan is it will be done in the next 4 week or sooner and we will all reap the rewards soon.
Sentiment: Strong Buy
Something unusual today. About midmorning a block of 30k @$1.10 was placed on the bid with 1k on the ask at $1.11 and remained until about 2:30 today. With the big drop in PT prices this AM I thought we would be looking at a $1.06-$1.07 close today. OF course still don't understand how you can show a $.09 closing price when the last trade was $1.11. But it did the reverse yesterday.
In the last 28 days we have a clear example of why egomaniacs always lose money.
They let their ego take over and can not admit they were wrong. They can be short or long. You have to learn to ring the register. I rang the register and missed the last 24% rise but I made money. A short here who can not admit he is wrong is now down $14,000+ but if his ego was in check he could have covered and shorted later or went long and made money. Money in the bank is better than defending your ego on some message board
Yeah it funny because Intel keeps announcing vaporware everytime a competitor beats them to market. Intel is desperate. I think the goose is cooked, they won't be able to bribe enough soon. Consumers can only be fooled for so long.