Is Baker Hughes market cap 1/10 of their debt?? I think not. That is the biggest tell of all.....insolvency.
Definitely market has priced in suspension of dividend. Could be the shortest life span of a dividend in stock market history; 1 quarter! Management has made one colossal blunder after another in a shocking short amount of time. (Prospector deal, not waiting to buy bonds at lower price) I'd laugh if I wasn't bankrupted by this stock. Oh well. Life goes on.
Thank god. Once the trillions of oil related loans hit home we can all celebrate the destruction of the world economy. Bravo.
$5 by end of Jan.
I give thumbs up. You're right. BX comes in when a company is in deep sh@t. LINE has so much debt that the street is banking on default and insolvency. And so far there is nothing to dissuade that thesis.
Absolutely wrong. Stock is heading to $5 on management running scared and dishing off future growth to BX. $5 and then takeover at $15
Yup, reinforces my theory that the street is very very bearish with LINE's recent moves and that management is running scared. I can't stand Cramer but he might be right that any upside goes to BX
Streets interpretation of distribution cut and Blackstone arrangement are extremely bearish and a sign of significant desperation by management. Now before the peanut gallery starts bashing, I don't agree with the street, but the lack of any buyers and the shorts literally having a license to kill only reinforces the fear that the company is nearing insolvency.
Of course it's the same with just about everyone in energy biz. Looking like only gorillas like Chevron, ExxonMobil and Dutch Shell will survive. Really amazing how a 2% over production can cause the entire global energy sector to get wiped out. Historical event occurring.