Ex dividend, other refiners have had poor reports, so it is down. I missed the last drop to 27, but that looks like a floor. If it hits it again, I will buy.
Another negative swipe at Linn this week, in the form of a letter to the editor from Hedgeye., basically stating that they are right about the cash flow issue, and the poorly informed retail investors do not have the expertise to understand this.
They will do this every week until the vote takes place.
When I tried to see if I could short LNCO at Ameritrade, I was told there were no shares available to short
Somebody is pushing this down to the point where the merger may be in jeopardy, in which case they will push it down more. I bought some October calls since this will be settled one way or another by then, and I sold my stock.
Does anyone have any information on when the shareholders votes will be announced? Is it possible this might not go through, or is this just the shorts having a field day?
I will be buying, but not until i see a bottom. Better to be a little late than early. Coudl the Berry acquisition fail? That woudl mean another 10% drop
Either somebody is getting out or shorting, in which case it is a buy, or there is news not yet out that somebody knows, in which case it is a sell.
I got a little at 15, but now it has dropped right through that.
And a lot of IRS advisors do not understand MLPs also, especially the ones with oil depreciation. Last year it took me several calls to find soemone who could even understand my questions.
Best case scenario is dead money for a year. Worse case is failure of turn around plans and a price of 2-3 in 6 months. If you are going to play this, do it with options.
Before the first offering a while back they were in the 60s. Since then it's been bad news, rosy forecasts and a 25% proce drop. Is there really any reason to hold this stock?
The issue right now is not the accounting, even the analyst who raised questions gives them a $36 target.
The issue is how much people will pile on in the short run and hurt the stock, and what this will do in the ling run to their ability to borrow.