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Penn Virginia Corporation Message Board

  • bobacequ bobacequ Jan 5, 2013 10:17 PM Flag


    Floating new stock at a price of 35% of book value was the equivlant of selling all their properties at a 65% discount so they can buy new properties. They need someone who can do sixth grade arithmetic But Even if the stock goes to a price of 2 management will get new options at aprice of 1. If they go bankrupt their golden parachutes give them additional millions. A pure case here of lose lose lose for shareholders and win win win for management. In prior times they would be charged with criminal acts.

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    • What gave it away? Was it the drop from $80 till now? Personally, I would think more of you had you sounded the bell at $60 or even $50. But now of all times?

      So help me out here; why is stupid management buying stock if they can get options for a buck? Dumb is dumb, but even a dope knows the difference between a 5 and a 1. And the fact that average daily volume is so high on a stock with so small a float and #$%$ management? Seems a lot of "dumpies" are NOW buying this issue for some strange reason.

      So this dummy bought some too. My excuse is that it is about to break a trend line that should allow it to fill a gap for a high percentage move from here. If I get something else along the way, fine, I'll take it.

      Me thinks that the market is telling you there is a hole in your strategy somewhere. Ol Auntie Ethel always said, "Don't fight the tape".

      Sentiment: Buy