if they do a reverse split and you own shares at 3 bucks your new cost could be 30 dollars on a 10 to 1 reverse split. Then your hopelessly screwed like me.
If they do a reverse split as they just mentioned at 10 to 1 and the new price is 5.50 but your current cost is 3.50 your new price cost will be 35 dollars and you have no hope to ever break even.
That is true they are shorting like crazy and i don't think the problem is an oil glut it is demand and global deflation with no growth anywhre in the world.
What exactly is the problem when they posted the same revenues for the year 67-71 cents that justifies a 10 dollar plus share drop?
How can you defraud the shareholders in a public company by sweeping the profits away once the government has been paid back.
Oil at 50 or lower will not get financing for next year for drilling. Oil offshore and Canadian oil sands as well as many other places. If oil doesn't go higher no new projects and oil will be over 100 in 2017.
The guidance they gave was 67-71 which was the same guidance they had given before. They didn't raise guidance and the pps fell 10 bucks. It makes no sense to me.
The guidance for the year remained ay 67-71 cents. Either there is a dramatic drop in earnings and outlook that would justify a ten dollar per share drop or the pps is being manipulated while someone accumulates. It would seem a lack of news should not create a precipice ten dollar drop in the price. My guess is this is being pushed down to accumulate?