1 for 3 reverse split to help strengthen it's position.
Seriously. Buy back when the cashflow is hugely negative. The retained earnings on the balance sheet is - $2.8B
Normally boards don't like to buyback over extended shares with a P/E ratios of 30, but maybe they will do a reverse split because most large institutions and funds are prohibited from buying stocks that are about to fall under $5.
Now that's a darned insightful observation...seriously. Cut down of volume and dampen short interest probably, no?
Buy back stock with what??? .... borrowed money? They can barely fund their CapEx past 2013.
Do you know of any stock that reversed split and went up?
AIG for one. Even though they still where they were before the reverse split the paid back the feds.
Most stock pps goes down after a reverse split,best is for Tpg to see who's interested in buying sd whole or by the piece.Oil is high and ng is starting to heat up making selling easy.
Yeah, you're right it has a checked result