If it's any consolidation, the buyout WILL be above $5 since anything below that would trigger massive shareholder class action lawsuits since the recent Rights offering was at $5. Anyway, we'll all know after the close.
I agree with you on the divvy cut call, I mean why would he hold when we all know the stock will tank big on the announcement and with no div, well there's another loss of income. For anyone to hold through all this is pure suicide.
NOT GOOD, however it pales in comparison to the millions of shrs both WR and Wasa recently BOUGHT in the Right Offering..... so go figure!!! Just the fact that Pickins SOLD, tells me a divvy cut is in the offing...NOT a buyout.
The reason he only sold 2.27 shares was that his last trade was TODAY!! He will probably sell more next week and only God knows how much more.
The divvy will be cut and that isn’t necessarily a bad thing. I mean, c’mon people…..like duhh, when has
retaining capital ever been a BAD thing for a co? HELLO!! Shareholders maybe, but NOT the co as a whole going forward. Personally, by today’s action, I think that’s what’s anticipated here. I mean, if a “buyout” was anticipated, don’t ya think we’d be trading UP going into the meeting?
Even it there is any headway made here (which I doubt with this administration) it won't be till maybe, 2018 before it would make any meaningful dent regarding XCO... if that.
Oh don't worry about that....THEY WILL, and if today's action is any indication, the Street ain't lookin for anything positive and who can blame them.
Next week they're either gonna tell us there's gonna be a buyout or a divy cut and maybe name the new CEO as well while they're at it....THAT'S ALL FOLKS!!
That wouldn't surprise me here since most of the bigtime institutional bagholders in this are proabably hedged on the short side as well. It happens all the time.