In my view as a former CEO of a public company having dealt with government agencies, it appears to me that the Company has accepted a lot of things that have no material effect on their business to satisfy and agency that wanted a pound of flesh. I say this knowing Raymond James said the changes would have no impact on the distribution (and they must have confirmed this with management before saying it publicly). I also say this because if the distribution were in jeopardy, they would not even bother to try to proceed with the BRY deal. IMO, when Goldman and others come out supporting the idea that these changes to language are not material and do not impact the distribution, the stock will return to where it was a couple of days ago and head towards the low $30's again.
I don't think this will be that transitory, it's done some damage, and the uncertainty in reporting next quarter's metrics (which will probably come out before the BRY deal is resolved) won't help. I'm betting we're going nowhere for the next month, with a couple little dips and spikes aside. Maybe a $26-29 trading range.
bbandassoc-- I attempted to post by copy/paste the Analysis from Raymond James complete report which you quoted from but Yahoo immediately deleted it. It is very positve statements about LINE and RJ stll have a BUY Rating on stock
Clearly the market doesn't like risk introduced to a company's prospects, even if it is caused by confusion rather than a more concrete event. I have a couple of thousand shares of LINE that I am tempted to sell because I think I may be able to buy them back around 24. On the other hand, I am not going to do that because there is no way of knowing when sanity is going to prevail which means $30.00 is probably a more likely outcome.
Maybe. Rather than shorts, however, I think you have a lot of good people who worked really hard for their money and depend on it for retirement who have invested for the yield and are easily scared out of their positions when you combine new, confusing information with a precipitously declining stock price.