Pretty low volume today, which is strong indication that weaker hands who wanted to take profits have done so and are gone. I expect LNCO to gradually climb up from here until BRY merger completes, then be back in the 38-range. Then, increased dividends. Nice!!
Increased dividends from what? 34+% more dilution in this deal. Ability to raise dividend falling from 40 cents at 1.25 to 16 cents at 1.68. The original "promise" to raise dividend at 1.25 is now gone at 1.68. Probably no dividend increase at all. Current LNCO shareholders got screwed by this deal.
Could be that smart investors (not weak) are leaving.