EEP used to be my favorite MLP. After the crash I had several hundred thousand units ... got them at about half of what it's at now. BUT...for years and years management has been singing the same old tune about better times just around the corner and for years and years every earnings report has been a disappointment. I finally figured out their BS and sold all my stake.
My broker sent me a notice that LNCO dropped its distribution from $3.08 to $2.90. Someone completely fabricated this bit of 'news' and it's obviously affecting the share price
I shorted 3200 shares LINE and bought LNCO. If I could have shorted 100k shares, I would have. My broker couldn't find any more.
It's not a bear raid. What's going on is twofold:
1) a lot of BRY shareholders are selling some or all of their LNCO to lock in their profits
2) a lot of people are selling or shorting LINE and buying LNCO due to the depressed price from #1
It may be under pressure for a while since a bunch of shareholders that maybe don't care to own it just got shares in exchange for their BRY.