I sold out at $6.72 and took a loss of around a point as I thought that would be a good price to sell as the stock would fall further and I am glad I did what I did . Bought MRO at $13.35 which has an excellent shot to help me recover my losses and then some . Will hold that well into 2018 to get all benefits . Should hit $30 by then if not more. Some one has to do something about China . They dumped steel and killed us plain and simple . Products they make are nothing but rash . We need change in direction and for that I am giving Trump a shot . Good luck to all
The management destroyed everything for their own benefit . 52% is sold to the enemy , DK and so no other company can buy this company . The company will have to cut the dividend by 50% as it won't be able to afford it which will cause the stock to drop significantly . DK will be in no rush to buy rest of the share and will wait for the stock to drop below $5 at which price funds have to sell because they can not hold stocks under $5
This management destroyed shareholders value and benefitted from it . Plain and simple
The company is worth a lot more without this CEO and current Board . No more refineries being built so it carry a premium . Lots of time a stock jumps a lot when a CEO leaves and this will be one of them . The stock should never have traded below $10 under any condition regardless .
When Jeff Bezos started Amazon from a tiny room it was selling books only with not much future . What people did not know was that he had a futuristic vision . He touched areas that had nothing to do with books . He ventured into Could business and he destroyed HP, oracle and beat MSFT and became # 1 in an industry he had no knowledge about . Stock has moved from $30 to $700 . When auto industry was facing the worst time and GM filed for bankruptcy , Ford brought in Alan Mulally from Boeing knowing nothing about cars and Alan saved Ford and made it profitable . When it was rumored that Alan may move to MSFT and head that company the stock moved 5 points that day just on the rumor .
The stories prove one thing and that is CEO matters a lot as the CEO makes or break a company . Imagine if tomorrow Jeff Bezos was appointed CEO of this company . Where do you think the stock would open ?
Now imagine if this CEO is fired . Would any company hire him . Not a chance . This CEO has destroyed this company along with the stupid Board Members . The CEO is getting paid doing nothing . He has caused the stock to drop 70%
The daily volume we see is Not the real volume . It is trading volume . That means the same shares are changing hands many times over and over . Short sellers constantly buy shares in open market and sell them to the bidder at lower price and buy the same shares and sell them again .
As you see every day there is no trade for several minutes because there is no real seller . So it will be hard for short sellers to find " Real " shares to buy . So we all should sit tight and get our 7.5% dividend
Short sellers use every second to push the stock down to get us to sell . It will be stupid to sell at such low level.
In fact I added yesterday as shorts tried their best to break the stock down . We are still will get a 7.5% dividend while we wait . No refineries are being built and there are values here .
Short sellers will lose money . There are not that many shares . So be careful
Some people just do Not get it . Blame it on the industry and that not much can be done . We should know that economy has up & down and it applies to companies and individual . Smart CEO or people should plan for it . Individuals have savings to get them through . This CEO should have either sold 5 million shares at $22 and put it aside for days like now and could have bought back 10 mil shares saving on paying dividend and also support the stock . Instead we are hearing excuses after excuses . Forget competitors . Auto makers went bankrupt and all borrowed money from government except Ford . Ford hired a smart CEO who managed the company without a penny help . When MSFT was thinking to hire him the stock jumped 5 points that day . He had no experience in Auto or had worked at a software company . He was smart and had proven himself at Boeing where he had worked . That is Smart Manager .
Stop posting , or accepting excuses . We need Smart CEO with vision . Refineries are not being built and yet instead of value of this company to go up, we are going down
Any company will go through tough times . It is the job of CEO to be prepared to navigate the tough times . Like consumers , We have to have saving for bad times and if we don't , it is our fault .
This CEO should have changed the mix, bought something else, raised money to buy back shares at crucial times any many other things and he did Not .
A class action will be a punishment for the CEO and the Board to wake Up and do something for which they are getting paid for
Dangerous to short at such low price . Short sellers drop the price to find shares to buy and cover and that is the pattern I see . I added at $6.49 . The CEO is terrible and should be fired .
New CEO will bring back value and the share should go to around $16
These Board Members should be sued for Not doing their jobs and just collecting their salaries and Not giving a damn about this company . If they cared at all they should have fired this incompetent CEO and overhauled this company . The class action is what we need to join and get back some of the money we have lost .
Board Members : Wake Up and fire this piece of trash CEO and do it NOW
Simply because the share price is down that does not mean DK can offer a cheap price . DK will face lawsuits . Recent Dell deal raised quite a bit of stir and some called it not legal . But can you imagine DK paid $16 for the shares and some Idiots sold shares at $8 . I mean who hires these stupid people as money managers and talk about stupidity how about the short sellers paying out dividend of 7.5% on a $7.00 stock which 52% of that is owned by another company . If they drop the stock DK can step in and buy the rest of the shares . I am happy by having paid half the price DK paid and I get 7.5 dividend every Q .
To me you short a stock where there is room for it to fall and has weak fundamentals . I shorted RH around $44 and covered around $ 27
25% of the float is shorted and do Not think short sellers are sitting on the sideline . Short sellers are actively pushing the stock lower and I mean every second because they need you to sell because they need our shares .
Short sellers will have to pay the dividend every Q and so they need shares to cover . One trick short sellers use is they buy shares in open market and sell it to the Bid to kill the bid but dropping the stock price is not a big deal but shorts are screwed when we do Not sell .
I added today at $7.55 and will enjoy my 7.5% dividend .
When the stock was at $44 I posted here that you should sell as the CEO can not be trusted . He is confused and can Not guide this company . Next Q will be worse and the stock will move lot lower .
The stock will hit $19.00 .
Can you imagine the Idiots who bought yesterday and the analyst who was positive on the stock .
CEO has to stop blaming oil and dollar .