but I see bid is +150k shares and ask is less than 100k which indicates a strong possibility the knife fight goes up to 1.20 - 1.21. Someone knows something as yesterday 2M shares near closing bell popped it from 1.13 to 1.23. Good luck - this one is either going to 0.75 or 2.25 -- my bet is 2.25
I'm just guessing but if you wanted to buy back the bonds due 2017 in the open market would you want to buy them at 40 cents or $2-$4? There is a reason and a timing for everything that a company does.
Wall-street is a crooked street. Things are never as they appear. You may be right but it's all speculation. Not making the payment on time and getting 30 days grace period could give them the upper hand to renegotiate. If that happens SGY will get an upgrade as it was down-graded for missing the payment. If that happens then it may be the 1st of a series of good triggers for SGY to return to $2 pre-split as an upgrade may be followed by chapter 11 off the table, assets sold, reduction of debt, oil and ng continue to stabilize and rally. There are 2 sides to every story.
cyber - so you sold at 0.60+ and I purchased at 0.46. you sold because of the recent drop in the last 2 days and that's the reason I bought. my experience has shown that when a stock pops too quickly it usually retreats about 50%. it popped from about 35c to about 65c so a retreat to about 50c is expected. I see a big pop coming. they have the cash to make the payment, oil up, ng up and the r/s is only for compliance reasons. at this low pps the reward outweighs the risk. see you at 70-80c in the next few days. good luck...
If oil/ng continue to recover purchasing SGY is the fish that did not get away and you will be telling your grand kids about it when it kisses on $10 pre-slit or $100 post-split
Sentiment: Strong Buy