On 5/3, the stock closed at $27.43. On yahoo Finance, the acquisition of the Michigan properties & the secondary offering was posted on 3/22. Yesterday, the stock closed at $25.00. From 5/3 - 5/23, I lost over $8,500 on my 3,500 shares of LINE. Now, why couldn't the news of the acquisition or the secondary offering be available to me a few weeks ago so I could make the decision of whether to sell and buy back at a later time. I know the big investors knew of this news a few weeks ago. Doesn't seem fair.
"If they don't get this stock price up soon some one should call sec"
I'm actually laughing as I write this, but just who is "they"? And what evidence should this "someone" (not you, of course) provide the SEC about what? The stock is down a couple of points. Everyone knows that stocks never go down. So what evil cabal is at their darkly sinister machinations here? They should be stopped before someone discovers that Linn Energy (with only 36% of their production in oil) is paying a third of a billion for a NG producer during a huge global glut of NG and NG prices are in the toilet and are projected to remain there for a few years-at least-to come. Thanks for the hoot.
The retail investor has none of the advantages given to large institutional players. It's always been like that. Given the inherent inequality, you have to carefully pick and choose where to put your money. I believe in the long run, LINE is a valuable component of a conservative income generating portfolio.
The system will never be fair but it's all we have
grow up....This new financing and the acquisition in Michigan was handled lawfully and properly. Did you expect a personal e-mail before all this happened so you could decide (ahead of everybody else) what you wanted to do??
Good point, monteag. The best defense against losing money in these situations is to know what you own in detail and take a few profits now and then so you are not caught overly extended. That also gives you the ability to take advantage of unexpected situations. I happen to be in the happy group that took profits at $28 (some time ago.) Now I am waiting for a chance to buy shares lower. Not that I'm always this lucky--a lot of what I've sold in recent months has gone higher.
boy what a whiney baby what was linn energy last year?
If your a long term investor watching and waiting how could you NOT make money on linn energy?
We all know that the energy MLPs are capital intensive projects, and wait for the secondaries for buying opportunities. Your complaining about 8K, well how much did you lose in the crash of 2008 compared to where linn energy is now?
It really isn't fair, but that's life. No one ever guaranteed that life is fair. This happening is not unique to Linn, it seems to occur with most of the stocks I own. MLP's are especially prone to this as most need to raise money quite frequently in order to grow. The brokerages know this much earlier than anyone else, shorting the companies before the announcements and getting a commission on the unit sales as well. It's just a fact of life and it seems no one cares except the unit holders. SEC and other government run regulatory agencies who should care never give a glimmer of interest to these things.
That's a good point tppfan,
I never really thought about the fact that the brokerages, or I guess at least the transfer agents, have to know about it ahead of time due to the additional shares.
I know little of how that sort of thing works, who's going to know what.. and when... and what the procedures are?