Sometimes one has to regroup in order to survive. Of course they knew the stock would take another big hit but they will hopefully be in business when the price of oil comes back. They can not stop the price of crude from going down. What they could do was discontinue the dividend and remain viable. Do not let the things you can't control interfere with the things you can. I do not like that they needed to discontinue the divi yet it does appear to be the responsible thing to do.
Some big money has made a bundle shorting these shares. So very easy for those with the big money provided by the FED to control sectors and make 100's and 100's of millions of dollars.
Think of the folks that purchased at 40 for the dividend. That is very sad. One has to feel for them.
When the big money has made a decision regarding direction you better not be on the wrong side. Fundamentals will not matter.
At present only OCN knows the truth and it is difficult to trust them.
Market making new highs while many stocks at or near 52 week lows. DDD seems a little overdone yet it will be determined by the direction that the big money takes on it. They are making a lot of money long on some stocks and short on others.
Obviously you are wrong wong. This is oversold. Shorts have taken Canadian banks down big. Canadian banks are light traders on the Dow and provide a beautiful opportunity for the brokers to make a bundle taking them down. BNS is a great long term investment especially on the Dow. This bank is not going out of business and provides a nice dividend. They will cover and it will move back up.
Purchased at 53.39. Will see what happens.
Significant losses despite the great dividend that was provided. Reality is that the whole world is in a mess.
Folks cheer up because things are only going to get worse. The monopoly money gains in this market will come to an end.
They are making less money, in less demand and being replaced. Price of crude does look like it will keep falling. For how long one does not know. Some of the drillers will go under similar to coal companies. Do think there may be more demand for deep water drilling because we will continue to need oil. In the interim the drillers will continue to make lower highs and lower lows. If your trading you may make some money. If your investing you may want to wait. Another disconcerting thing is that this market is looking some what like the 2008 market. We have a lot of stocks that are now hitting 52 week lows and falling hard while all the talk is about how great the stock market is. Big money is shorting a lot of sectors right now and it appears that this may increase. When companies like CMI and CAT are not doing well often the majority of the market follows.
Nothing they can really do. Rig contracts are not being renewed. Some that are going for lower prices so less profit. It is very difficult time for drillers. Of course it is worse for share holders of these stocks.