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Transocean Ltd. Message Board

  • buythelows buythelows Nov 29, 2011 11:58 PM Flag

    Here is why RIG is going below $40

    They announced tonite that the offering was even weaker than most expected only $40.50 per share. That means about 26 million new shares floating around that were bought by investors who thought they were buying at a discount. But now the stock is trading at that price after hours and will surely dip lower tomorrow. Many of the 26 million new shares were bought by people who tought they could flip them quickly for a small profit, but when they see there is no profit they will be dumping them to get out before others sell and that means the stock drops below $40.

    It will be lucky to hold $36 in the coming days. Buying early to try to get a bargain has resulted in losses for many investors today. Smart investors know the bottom is lower and to be patient.

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10.09+0.02(+0.20%)Aug 26 4:02 PMEDT