Shorts have taken this as far as it can really go. Minus a distribution cut or some catastrophic issue with the Berry acquisition, the momentum for the downside is abating. The Barron's article is hilarious, and so is anyone who reads any validity into it with the so-called support of major investors who in turn are hedge funds unwilling to share with everyone their position on the stock.
Why would a company who is planning on increasing its distribution by 6% and undergoing a major acquisition that will increase its DCF substantially, be worthless on a complete misrepresentation of GAAP accounting and cash flow management? It wouldn't be.
Has anyone considered the fact, that once the announcement was made to make distribution payments on a monthly basis, thus taking out a lot of volatility of the distribution trade major money managers love, created a big opportunity for someone to short heavily, driving this stock's price down before such volatility reduction took effect? Just saying. Hold tight, back at $39 before July 1st. GLTA.
Unless LINN decrease or stop paying its quarterly dividends, all this talk is bs. LINN had paid all 29 of its quarterly dividends since its IPO. Unless these shorties can come out with substantial proof to the otherwise, they are just spilling misleading accusations - hoping to make a quick buck from some naive shareholder who sell their shares believeing in what they say.
Shorties don't care about you shareholders, they only care that you sell your shares so they can make a quick buck. And blabbering apocalypse of LINN is the only way they can scare you into doing so.
Also...if they do increase the distribution to $3.08 per share, we're now at almost 9% yield levels. Linn has rarely traded at that level in the past two years. The floor on today's distribution level should be $34.12, the higher end of 9% on a potential distribution increase. Not bad. GLTA.