The stock closed at 53.10 less than a month ago. In the meantime they've announced a dist. rate increase, someone call the SEC, we need heads to roll! LOL
Don't you think they announced the rate increase to wet the appetite for a secondary, creating demand. Your naivete is mind boggling.
Listen, I'm sure you are some sort of disgruntled employee or something but why own this if you hate the management so much and think they are manipulating the news cycle. I would never invest in a company that did the things you suggest yet you seem to stay invested and just complain. Who's the dumb one?
Here's a thought, don't count your pennies for a few days and check your account in a few weeks and it will be like this never happened except that your distribution will be higher.
Rather than changing the topic to me.. thats what cheerleaders do best.. attack the messenger when they do not like whats being said
why not address the topic at hand..
was the news cycle manipulated... or are you in denial?
Isn't the manipulation of the news cycle securities fraud?
Isn't it a concern that the stock traded off on Friday after such good news and then there is a secondary on Monday?
Your admission that the increased distribution was done to specifically to increase demand is exactly why the news cycle has been manipulated... you obviously agree that EPD knew they were going to do a secondary when they announced the bump in the distribution... the demand they created was not sufficient to counter what appears to be knowledge of the pending dilution
That means you can see the manipulation in the timing of the release of the news... That is Securities fraud... they held back on pertinent information... it appears someone someone knew the pending news and traded on it... thats felony insider trading
I just feel that I am entitled to all the news when they know it... not just some of it.. while it is leaked to preferred parties
Time to remove your head from your rear end and admit what you saw over 3 days
Furthermore... one of my biggest points when I was complaining that the distribution needed to be bumped was that a secondary would come sooner or later... I was hoping that the bump in distribution would have had at least a month or so to influence the share price in a positive manner before an announcement that would be perceived so negatively
Imagine a world where EPD would have traded to the $56-57 range prior to the secondary.... that means either less dilution or more cash in... but whats $30-$40 million... obviously nothing to you
As to why stay invested... In my opinion... the company just screwed me out of an opportunity to monitize my shares at the max... I really did not know till today that they were such manipulative POS
I do not mean to dismiss or disrespect your position on this issue in any way, but I do strongly and sincerely urge you to pick up a copy of "Reminiscences of a Stock Operator" (the newer annotated edition) at your local library, and read it cover to cover. Right or wrong, moral or immoral, legal or illegal - you've really got to establish a reality-based view of how the markets work, or you'll be doomed to constant frustration (and losses)......
I'm certainly not naive but I have to say the resident cheerleaders who think that EPD mgmt are saints certainly are
My comments are made publicly so someone says what is obvious.
The cheerleaders on the board will not even address the issues directly... all they do is attack anyone who will point out the indiscretions of EPD mgmt
The cheerleaders don't even realize that EPD most probably acted in concert with the underwriters who were pumping the stock Friday and Monday at higher levels... delivering shares that they knew they would get cheaper from the Secondary...
a practice that is in fact illegal
No one should be a "proud unitholder" of EPD regardless of performance... ethics and legality do matter...
and EPD Board members should be ashamed of the recent news cycle that they approved
I had a right to know all relevant news... they did not afford me that right... but it appears that others certainly had the news and the ability to profit off of it.... which means that they profited at my expense
And I have every right to be ticked off and to say it here