I was buying more stock actually, different approach I guess
If you represent the Short side, my confidence gorws by the minute. Obviously not going to zero unless the market is clueless like you seem to be.
$100 million divided by Market Cap is close to 5% dividend just for that one payment. Kind of redefines the concept of piddly I'd say. You would have to assume it gets reduced longer term but by how much? When the smoke clears and people that wanted out of the stub are gone, we'll have to see where valuations start coming in. Like I said before I have only seen $16 and $24 so far as targets, beyond the pundits that are saying the sky is falling and the company is going out of business next week. That's what makes it a market though.
Who sits on a blather board when you don't own the stock? You're just hear to tell us, I told you so? Personally if I wasn't Short, not sure I see the point in time spent. Not really sure if anyone has been a major 'pumper' but I remain in the stock and think it's worth far more than this price for sure. I guess that makes me a 'pumper'. In the words of the esteemed Donald, you're an idiot.
PGH is not exactly alone on that thought, so I guess the entire oil industry is simply a matter of bad management and they all should have offloaded their assets to who exactly?
I agree, buy with 2 hands, strong dividend support, no need to borrow ever, PE in single digits, P/S multiple a fraction of GM, gas prices at all time highs so electric cars look fantastic by comparison, and price point on vehicles that even someone on welfare can handle the payments. Down side support is a limited, it's a gimme
My guess is a Tepper or someone is stepping in. Pretty sure that $16, which at the time was suggested as the stock going nowhere, suddenly looks a lot like a somewhere. The Shorts are leaving the room.
Then again oil may start going back up tomorrow and keep going to $70 and beyond like 2007-2008
Why stop there? US mainland is technically insolvent and has been for years. Of course your dollars are worht less every day so getting them out of the bank doesn't do much for you either. Good lukc on thos short positions but frankly I'd cover before the market closes.
Hey they follow the Amazon plan, increase volume, lose more, fools bid your stock higher. Just hope when the air goes out of these baloons it doesn't take everyone else down with them. I am still immensely confident this company is not around in 10 years but you'd have to be a fool to short it when profits are not a consideration to their shareholders.
Someone seems to think at least a generous portion of that may be sustainable
They already cut the dividend, rather not see that happen again. Blood bath? Little late on that call I'd say. Maybe read up a little more and get back to us
This market is still going down, I wouldn't get too excited yet. Would be nice if the low is already in but a lot of those are getting retested.