Yep saw it from Seeking Alpha. Not sure if I believe it, but the author does have his picture next to his name, which means something in my world. At the same time, we a few downgrades today to neutral and hold (not sell). And the earnings was supposed to come out, but didn't.
Is Dallas right? We'll see. After no news, we may have one bizarre day or two.
My guess is that no earnings report on schedule is a bad sign. Just a guess.
My position is nothing, open to buying if I see something (other than BK of course).
Yeah it said earnings today before market. I don't get it. From the article:
Ultra Petroleum Corp. (NYSE:UPL) will post its quarterly earnings results before the market opens on Thursday, April 28th. Analysts expect Ultra Petroleum Corp. to post earnings of ($0.08) per share for the quarter.
Interesting earnings report. Are they going to try to make it look good, to keep the stock afloat, or look bad, to gain leverage with the banks?
Why not explain to everyone what you mean by stock to loss, and what you mean by others are gaining. Nat gas stocks have been getting killed.
How do you know. As you said everything's determined behind closed doors.
if you pay .15 and you know it's going to 0 it's a profit
but the volume is so light, .15 a contract, I doubt it's relevant
What about the puts. .15 per put, 743 volume, higher interest. .15 is high, given you get max .50.
Trying to play a pop or drop.
Said since back in March they would wait for just before April 31. That's the way Ultra Petroleum Corp. operates. lol
UPL's recent history is say as minimal as possible, pay lawyers to negotiate with the debtors, decide what to do at the last minute.
It's a ridiculous way of managing a company.
They didn't pay the last 2 due dates. They went into default. They proved to the banks that they're willing to skip payments.
I am not an insider, but I have to believe it's not that simple. They are getting rid of the guy 9 days before their deadline. Before they have a more clear picture of their future.
I'm no expert for sure on oil, but here's my take.
OPEC was relevant before Iran. Ironically, the Obama Administration is responsible for the oil crash, because they opened up Iran to selling oil.
Iran is majority #$%$, Saudi Arabia is majority Sunni. They are not going to get along any time soon.
Since Iran could sell their oil on the markets, oil has tanked. It went up a bit, but that looks to be temporary.
I don't own any oil stocks, including UPL.
Yeah and to not be in the game is not speculating. I have no positions.
As for time telling, it will be right before, or on, April 30. Because that's when they're forced to do something. That's when I'm paying attention.
Early stages? They had an extension to April 30, which comes up in 15 days. They have paid zero on the debt, defaulting on the debt. The clock is set to expire in 15 days, and they've had years to restructure their debt.
I'm not talking about announcing something substantial. I don't expect that to happen until April 30. They are saying nothing, period. My guess is it's not because they love each other and are just waiting to make some great announcement. Their stock is at 50 cents and we hear zero from the CEO.
UPL hired a law firm to deal with their negotiations, which is not a sign that they're good buddies now with their lenders in their negotiations. Nobody knows unless you're on the inside because they say zero. It's just guessing. It may go up, or down, but imo all you have now is speculation.
It's a good question as to just who is crazy.
Just because it's unsecured doesn't mean UPL is off the hook. The lenders can take UPL to court. Of course, UPL can also claim BK (though this will wipe out the stock). Sure it's best if they find a solution, but it costs lawyers and time and all that nonsense. In the meantime, UPL keeps defaulting on their debt, lowering their credit rating. It's ugly. And we hear nothing from UPL, which says to me they're protecting themsevles. That's the way I see it, tell me if I'm wrong.
Learned the hard way not to chase. To wait my turn. I agree not to wait until news, I hate doing it, but here I don't have a choice. I don't trust the mangement-they say zero. It's not a good sign. Management is not telling anyone to buy. They won't even pay the interest due, until they absolutely must-April 30.
Unrelated, i said get into gold miners months ago. I would still buy gold miners. IMO it's going way up.