Not great but certainly not terrible - and I agree, that was on a huge leverage drop. Interest rates look to be between 2.6 and 3 for rest of the year so maybe with some stability they can start gearing back up.
Yes, they do if they bought yesterday. An incentive for the brokerages to move the shares quickly. It is a wash on the proceeds - 5.5+ million at 21.18 with having to pay divi or 5.5+million at 21 without.
Strange, after grinding up the entire day, an ATC sell dropped it 30+ cents. All the SO and overage moved today. Usually a good sign.
Public announcement was 21.18 but never got close to that price. Lot of demand - got 100 of an order for 21.25 lol. Maybe after the xdiv.
SO's are almost always priced the next day usually after the market opens. More often than not (it is not exact) the AH reaction is pretty close to the offering price. Now the market may like (look back at Telsa's SO price action) or not like it and the price tomorrow will fluctuate. There are not a lot of shares out there right now.
With the preferreds at 2.90 (and I own more than a few) I don't think there is much upside here.
I think the more important question than Bk - a binary yes/no but most feel that it is not an immediate concern - is restructuring. I own the preferred but if the company decides to restructure, they will worth the same as the common.... not much. The preferred is certainly trading as if it will be converted to common stock and not have the divi reinstated in the future.
Anyone own/been watching the DMpB? I got in early (well, way early it turned out lol) about 2 months then added at ~16 a few weeks ago. The volume was very large during the drop but the last few days almost no shares have traded.
I remember several long and heated arguments on other MLP boards about whether negative UBTI could be offset against +UBTI from another MLP. Don't know if that was question was ever resolved. Do you or anyone else have any insights?
I think that is a nice play - min 11-12% return even if you get called but if it were me, I would like that to happen sooner than later. I am pretty sure the every 3 month sale of shares will continue and you will be able to rebuy.
Don't care for them or their tactics but they have ridden LINE from 34 to ~20 and made a lot of money. If they haven't closed out then they deserve to get ripped but even at 27 we are still looking up.
Mosaic earnings today disappointed on lower prices and higher costs. Of course, they use nat gas but UAN get thrown out with the bath water all the time.
Never can figure out NTI and CVRR - oil was up Monday and Tuesday and the stocks were up nicely. Just easy to push around because relatively few shares out there?
The stock is going to go where the big boys (and girls) with the money and shares want it to. Might agree with you the options end, though. With the stock at 17.75, I could not sell my Aug 15s for 2.85 (intrinsic was 2.75) you would have thought 6 weeks was worth a dime since it includes earnings lol. Same thing happens in most of the MLPs (they don't seem that illiquid) when they get fairly far in the money. Last quarter I had to offer my UAN options below IV to get them sold.