People are delusional to not see the huge downtrend in this stock. They fail to realize the "buy the yield" mentality is over! Risk is going exponential on any high yield stocks.
If you look at support and resistance levels, $6.01 is the next level of major support. Too many here took the bait of high yield in a massive debt levered company and in a low liquidity market.
Just wait and see what happens when they cut the dividend late this year! It will plunge just like all the other "reach for yield" stocks.
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.