Book value has no bearing anymore. The debt holders are the ones who are going to pull the plug. Wall Street is valuing the company at only 5% of outstanding debt. I don't know any debt holders that would allow that to continue.
Where is all this coming from?? Rig counts are at 4 year lows, demand seems to be at least on par compared to last year. The continued massive build is perplexing in light of the reduced production?
Surely the debt holders are ready to call in everything at this point. Perhaps that is why management appears to have thrown in the towel. Would make sense. With the market cap less than 5% of total debt, I sure as hell would be pushing them into liquidation.
Is it far fetched to believe NE dumped this in full expectation that they very well would end up bankrupt, but didn't want it to impact their core business? Even with the slide in oil, the shocking death of this company is very suspect. Almost like it was premeditated. I have never seen a company implode with the suddeness and straight down death spiral as this POS.
Lmfao! Stilley is off to a great start. Creating shareholder value is not a concept he understands. Destroying shareholder value is his expertise.
Nonsense. It's only money man. Sure it sucks but it's not worth dying over. Load up on as much revolving debt as you can, go on an 18 month buying spree, then file bankruptcy. Get back at the system. Then file for EBT card and all the other free stuff. Blame it on Wall Street criminals
Who's screaming? Just because some of us point out facts about the stock crumbling and management's utter lack of concern for shareholders doesn't equate to screaming. Do you always spin things in such a way?
Yes but a forward looking p/e of anywhere between 2 and 5. And they might even take loss for the year the way things are going.
The company is not valued at 2.25 billion! Lmfao! Just because they owe that much debt doesn't mean they're worth that much. Geez do know how to calculate net worth or book value?
I disagree that management couldn't help. Even if they bought back 25% of the float ($40 million bucks) that would send the shorts over the cliff. And it is totally capable and within their financial means. But they'd rather let the shareholders die. That smacks of an impending reorganization to me.
Nope. Once it broke the all time low yesterday things changes huge. This now will most likely see sub $1; as crazy as that sounds. But with the p/e at 0.4 crazy seems to describe this stock.
Oh I will certainly croak before LINE hits 20.....because it will never hit 20 again. But you already knew that.....