I'm wondering what you all think about the chance of this stock going down to zero in the next 5 to 10 years. I've seen KDKN, COUGF, and ENT, three like companies have it happen to them, but PWE seems to be pretty big with a large amount of assets like land. Still, to see the price drop like this tells me there just might not be a bottom. I'm interested in hearing from people shorting this stock and those holding long term what they think.
The chances of this stock going to ZERO is ZERO. It will be bought up long before that. Consolidation in the O&G market is coming. XOM could take this with spare change. One good hurricane in the gulf will run this back up. JMHO
Its not that there is a chance it's inevitable. Really pull their financials do some research on accounting for reserves consider the move towards alternative fuels and the likely decline in gas prices and you'll see. I'm short from 14. Shorted again when it broke 10. Shorted more when it broke 9. I don't even care about having to pay the dividend Every day I make more than my quarterly dividend charge.
I have been in this for many years and have seen it drop like this and over time go back up. The whole market feel yesterday and can only hope we will have a run up overtime. The silver lining in this is that the dividend will get stocks at a lower price, if you have a DRIP setup. Good luck to all longs.