Like they noted in the K, the company did some restructuring. Rumor is that PVA is planning to spin off PVR (and that PVG may be sold off or liquidated as well). PVA would just be in the oil and gas biz, while PVR would only be coal (and I guess NGM).
These are the rumors up here in NE TN, but there is enough uncertainty in this company to make me steer clear. If they are planning to do this, I would hope the company would tell the public sooner than later. How do you think the market will react to this?
I follow PVA on the charts. It is sitting on its 50 day MA at 24.41. I'm a buyer if it stays above that and a STRONG seller if it falls through. Last time it broke, it Wile E. Coyoted to support at it's 200 day MA which is now 20.80. Rest of the week should be interesting...
This spinoff talk is news. Seems strange when the rest of the industry is gaining M&A momentum??