For the last week or so, a large seller has been getting out. Today the volume was 446,700 at 3.59 and then around $1,394,000 at the close. Last I looked it was $1.88 million after the close. I am hoping that whoever it is that is selling wishes to get out by the end of the quarter and is finishing up. Clearly a buyer was arranged for some of this.
Maybe I am too stubborn,, but I still think that SARA is worth somewhere between $250 and $ 400 million, which means $4 to $9 a share. The delay in the tubing and drilling of Rocky is discouraging, but hopefully is just the normal delay from things taking longer than you hope. I would love to hear others' thoughts on the valuation and on the delay.
There is an interesting discussion in the comments on the latest article on Seeking Alpha, that I think are too pessimistic, but it is hard to argue with them when the stock goes below $1.50.