I heard it was 30 to 40 percent and saying this not intending to drive price down. It actually might help the stock price in reducing overhead cost the larger the number.
There is no doubt to me that with the massive debt of this company it is restructured. CHK was a mismanaged company from the get go. Now they have debt they can not possibly pay back.
I assure you buythisdog is not me(buyrightone)! This stock has absolutely no future growth showing! Look it up! That's why it's headed south and so many in denial, and I don't mean the river in egypt!
You got that right. Back to test at least 20 before the qtr. ends. Hold cash, crude is going lower along with this stock! Too many trying to catch a falling knife, just like they did with sandridge.
NOOOO, not at all time lows, but it may get there with the garbage they are buying lately. They just spent 30 million in Detroit!
This stock has tremendous distribution going on. It's below it's major moving avgs. and is going lower. Hedge funds are selling because the "reach for yield" and "financial engineering" game is over. LXP is going down to at least 6.55 before the grass turns green!
Yes, my friend, the chart says 6.50 to 6.55 will be tested. That is where hot speculative money will come in and try and support this debt leveraged stock.
LXP continues to go down! Why? Because it is risk off on low liquidity high debt levered companies! People reaching for yield are getting burned. Ask KMI investors about how reaching for that good as gold 10% dividend worked out. LXP is going lower and it could go lower than you can imagine.
28 support is busted now, so it goes to 25 real fast and I mean fast. If 25 does not hold look out below, it goes to 20 as next level of major support.
3.75 is likely near term support this week. However, longer term, It's going back down to retest the lows. Good sell early on Monday! Buy back at mid 3 level later this week for speculation.