Very good question.
the perferred did not r/s as did the common.
perhaps from the view point of real compression of a stock
the perferred could still fall below the price of common on weakness.
should that occur a bottom would be close at hand with a coil compressed
that words would be hard to describe upon it's release.
Always remember that Gmxr-p is a asset of specfic amount of debt @ a %rate of return
it is not a share of holding of the company's future potential.
this is the only reason that would keep a long term common holder from owning it.
since the r/s the holder of the perferred may find that the common dynamic would be much quicker to bound
due to the r/s effect of less stock on hand to buy or sell.
today after 1030am very hard to get quote from the book on the ask or bid. electronic trading wise for gmxr-p.
if the common runs above $25 a share due to the r/s the company could quickly remove the perferred as common share price bounds.
enjoy your Investments-
Very true ronnie but the bond holders as well as mutual funds/hedge funds have huge huge common stock they would rather sell all nat gas lands, get $300 to $400 million, and continue drilling the Baaken yet at a very quick pace