It will likely open under $.05 and go up and then down into the close. Don't forget the shorts want to cover too instead of being in limbo.
They let PSUN trade also for a while after the announcement. Shorts can't cover so right now everyone is screwed. They likely don't want to see another SUNE, where it obviously went up because of short covering, only to be shorted again at higher prices.
They could still be within the 10-day filing window and making additional acquisitions. If it's 10% ownership, they'll be required to file a Form 3 in addition to the 13G/A.
I kept waiting for amended 13G to be filed but it never came. They had slightly more shares than Icahn and were the largest holder. It will be interesting to see who bought all those shares, but we will likely never know the truth behind their sale.
I noticed additions of 1-5 mil. from some of the other largest holders but someone made a huge purchase that hasn't been filed yet.
From their latest 13G filing, it appears Capital through all their shares at the market to drive this price down to current levels. I'm still waiting to see who bought all those shares.
Just like 2000-2001 when the Saudis' wanted to put Russia out of the oil business. You're right Russia didn't survive and oil prices never went up after 2001.
I love fear, sent the stock lower so I can purchase more!
Just hurry up shorty, knock the price down lower so I can buy more!
The second largest natural gas producer in the U.S. is also considering selling assets to shore up its capital so it can address more than $1 billion of debt coming due in 2017, said the person, who asked not to be named because the matter is private.
Chesapeake Energy Corp. is planning to pay $500 million of debt maturing in March, using a combination of cash on hand and other liquidity that may include its credit line, according to a person with knowledge of the matter.
Next week the rumors concerning oil will all be positive, 1 more day of the bs!
ink500, I've also been in and out of the stock with much larger holdings up to 100k shares at times and may be going up to that threshold again very soon.
I was up to 100k shares at around this same period in 2003 and sold 75k of those shares once the stock touched $20. I added another 25k shares over the summer of 2005 and sold 25k of those 50k shares once the stock hit $25 in 2007.
I did indeed hold 25k shares all the way down to this same price range back in 2009, but only added 10k shares at that time due to the uncertainty surrounding the financial crisis. Those 35k shares became 5k shares after the 1-7 reverse split of May 2012. That's the amount shares I've held until recently.
I'm not blind to the fact that the company may need to raise additional funds for a major launch. The plan of adding shares at the right time and profiting from trade is always tricky. I'm hoping this time it's going to be another repeat of the 2003 cycle, which was extremely profitable. I added 20k shares at $2 and added 25k shares at $1.70 last week. My plan is to add an additional 50k shares if we get down into the $1.30.
Even if I'm wrong and there is another RS, doubtful now with the recently announced finance deal, I still believe there's value in this company going forward into this next year and beyond.