SHLD up 5% after "horrible results". I'm guessing that's not what you wanted to see. You have to go with the flow sometimes even if it seems to defy logic.
I guess you not buying at $7 and $8 was a huge opportunity missed too.
You contradict yourself by implying the company is garbage yet state ARES "may plan on effectively owning the company when they are done".
I never said this was a buy and hold forever. if you look back at my posts I actually shorted at $19 during the last run to $20 and covered in the low teens. I started buying back some of what I sold 2 days ago at $22.60. It may give a little more back but I'll just rebuy the rest of what I sold.
Maybe the stock pps is a bit irrational at this time but you act like you never saw a short squeeze or momentum stocks that are grossly overvalued. Sounds more like sour grapes to me because you either shorted too low or didn't buy low enough.
It's not a dead company, they have a lot of very valuable acreage. True ARES propped them up with a ridiculous rate but they wouldn't have touched them if they thought they wouldn't make it when oil recovered. I took half off the table today. This one has been quite the money maker if you played it right.
If someone was short from $50 and the didn't cover when it was $6.50 they should have their head examined. Doubt that's the case, most shorted less than it was today since this is the highest it's been in over 5 months.
You must have never witnessed a short squeeze, no insanity here. See my post from yesterday, pretty easy to predict with 41% of float short.
41% short as of 4/29!! Since the pps hasn't been his high in 4 months most of those are underwater. We may see a run to $28 this week.
Wasn't TAL trading close to $20 when the deal was made? I'm not arguing that industry is trading at a discount. I'm just stating that if the new stock opens at $14 it seems like a bitter pill for the Triton investors. I just can't believe they would agree without an adjustment to account for the depressed share price.
So you are saying this is based solely on the TAL share price and does not account for the current Triton equity holders? I know Triton is not a public company but they state that their current book value is $24/share. Since they are getting a fixed 55% of the new outstanding shares it seems like there is no adjustment for them and the value of their shares drop from $24 to $14 if the transaction took place today. Just doesn't seem to work if you are a current Triton investor.
I received my proxy notice today and have read some of the highlights of the merger proposal but it's still not clear how the new Triton shares will be priced. This is a 1 to 1 stock exchange with no fixed dollar value given to TAL shares and therefore no adjustment for share price fluctuations. They do list the book value of the combined company at $21 and change as of 12-31-15 but offer nothing on the new price per share. Since this is essentially a new company listed on the NYSE how will it be priced? Is it considered an IPO and if so how will the opening price be determined?
Due to this uncertainty you will probably not see much movement in TAL share price and it may drift lower from here. Someone posted TAL was going to $22 per share by the close. I'm not sure why unless that would be the new TRTN price per share. If that's the case then you would already see the share price rising as we all know that trading on insider info is much more prevalent than the SEC would like us to believe.