Your right,forget 10 bucks..it will be 18 dollars within a year. And no I can't rule out chart work. A large amount of companys have a large amount of debt...kinda like the new American way...( Wait is'nt that how we got here...) Since you got on the topic of common sense.. You are currenlty short a company that was beaten down for fear of going bankrupt. Which won't listen to the ceo with Barclays. That is more than half below its 52 week high, that deals heavily with nat gas which is at a seven year low and currently is under a short squeeze. I beleive your down 30%?Give or take five. A chicken has a brain the size of a pea but still has the common sense to get out of the rain.
Shorting HERO when Pitt did, has to hurt. I hope he has a lot of cash in his accounts or he will be getting margin calls.
Nat Gas is coming off long term lows as winter approaches and the economy picks up (read: more electricity demand) Why would you short a stock that is so low in stock price?
The shorts are running scared, so they will tell bad news to try and scare people into selling. Longs keep the faith the price will continue to go up as the economy improves.
do whatever chart work you want, there is no way this hits 10 this year, maybe a year from now, maybe. But natural gas prices will remain compressed, the economy will not experience significant growth, alternative energy will be more in focus, the company has old equipment and 1 billion in debt. More rigs are being developed.
Stock hits 5 within two weeks is what I think happens, though sometimes the market doesn't necessarily make common sense sorta like you. The stock has gone up 30 percent over the past week, if you think this trend continues, aside from a purchase, which won't happen because of the bad balance sheet of the company, the stock can hold this price on its merits.
I heard that the Mexican national oil company is experiencing a significant down turn in profits due to falling production and a fall in the price relative to the outrageous prices of a year ago. Anyway, a thought is that they have neglected to invest to add to their capacity. I think that a company like Hero might fit their niche very nice. The deep water drillers (although they get the better long term results) won't be able to bring on any new production as fast as a company like Hero could. Just a thought
company is at 50% of its book value which is 10.00........you run where ever you want. But the selling now, when dollar is the worlds currency most unwanted laggard....that would be a deal....Please sell....and wave on us from far distance in October....:))
Hero is one of best stocks available now for this price......if you cannot read it, just watch...with open mouth.... :)
You can tell me whatever you want for book value, but I'm not sure the book value is reflective of market value. Most of the assets of the company have little value in a world consumed by deep water drillers. Furthemore, most of the assets are old and obviously not at the technological forefront of drilling. All i'm saying is if you think 10 is in the near future, your crazy.