They announced the merger was on track knowing it would give the pps a boost, but it was all just so some of management friends could abandon ship before the crash. Or at least that's the way it looks. Like I said, and I say again, THIS STINKS! and the smell is getting worse by the hour.
I agree, just got back to even in the last week, bought some puts at 27 to hold gains in case merger fell thru, but this doesn't look good, I'm out at even @ 26.50, and will wait to get back in when this stabilizes or merger is completed.
Still worry about BRY merger since LNCO shares are down also. My thoughts!
Yep. Just sold all my holdings in LNCO for a huge loss. My guess is that it isn't as huge as it would me in a few weeks. Get out while you have a little value left, IMHO. But heck, what do I know?!?!? Apparently not much since I just sunk far too much into a sinking ship!!!! Hope those of you who hang in there through these storms get HUGE rewards. You deserve something for your loyalty!!!
Dear "new"...I think your posting label "new2 investing" ought to give you some pause, to re-think your strategy, as a newbie. Over the past several years, each time I sold a stock, I listed it as part of a make-believe "portfolio" on Yahoo Finance, listing my selling price as the buying price. Then watching it over the next 1-2 years. Almost every year, my "sales portfolio" was "up" in price, indicating that I sold way too early...and often sold unnecessarily. With LINE, yes, you could lose another $4-5dollars per share if the BRY deals falls through at the end of the month...but with LINE's seeming renewed confidence, and SEC apparent settlement, you probably would have gained $4-5 per share. When LINE moves, it moves big. And while you wait you are collecting 11-12% divvy. Please try to learn more patience....as one who is "new to investing" ....particularly right now with non-mortgage, high divvy paying stocks, especially in the oil/gas sector. This stuff will be needed for a long, long time... and as the world economy is slowly pulling out of recession, the engines and plants will need even more oil, lifting the world price. I'm still trying to learn patience, after many years of investing, and after watching my "sales portfolio" sometimes do better than my "holding portfoil." Good luck.