You have to wonder what is going through the minds of management at this point? Was this a anticipated reaction to the suspension of the dividend? If so what is the game plan? The massive devaluation of their company in the capital markets? Why?
IMHO, the possibility that this company will be purchased at a considerable discount is a good bet.
Another thought: Why in the world does Morningstar rate CHK with 5 Stars?
Way oversold !!! Without question the shorts win the day, but the week is not over yet. Management did what they had to do to preserve capital, tough call. Are they going to be able to ride it through, time will tell. Will they get bought at a big discount, a good possibility.
IMHO, way oversold. These guys are pretty sharp operaters and have made strategic moves that will start to pay off in the first half of next year. I have been adding to my position over the last two weeks. For me It's 100 shs at a buy. Good luck to us all.
"T. Boone Pickens: $70 Crude Oil Coming" He states by the end of the year. The money to be made is on the upside IMHO. A lot of short squeezes coming. Check out the 4HR chart of UCO, it breaks up or down. IMHO it is going to break to the upside. https://www.tradingview.com/x/iDby3nfv/