OA sinks by about 5 dollars. What the heck is going on? My only thought is that there is suspicion that earnings are not going to match expectations.
Investors can only hope that the switch from bulk begins to show up as bottom line profits in the near future. Mr. overall market is not going to make a rise in share price any easier either with all indices getting smacked again this morning.
They have to be coming pretty close to a much bigger bill than that first year's payment to West Texas Bank though. Perhaps they can negotiate again as WTB may not want an asset like Poplar on their books at this time.
The company could report a good quarter with positive earnings and the overall tone of the market might still drive this stock down towards 4 dollars a share. I have no idea when we will reach bottom in this market correction but it might be some time from now and investors in Cyanotech will just have to be patient or through in the towel.
The way the stock is acting (up 2 down 2 up 3 down 3) one would think that analysts and investors have not a clue of what is to come.
The current correction in Magellan shares from 1.40 to 1.05 is understandable and some investors who held shares at 20,30,40 cents are going to get out. Everything going forward is going to depend on whether the zones discovered at HH 1 have good shows and flows of oil. At that point another company might be willing to buy Magellan's interest in a safe on shore UK field and the leases nearby. What price they might be willing pay is unknown but is likely Magellan's only option for survival.
I believe the posting he is using is now vovvol and he has chimed back in with the same old pump and dump and bagholder phrases.
Message board for UKOG says flow testing rig has arrived at HH 1. If that is accurate then I can imagine results within 60 days unless they choose to flow test for the maximum of 90 days that they indicated might happen in earlier reports. As always, time will tell.
This is the cause of the rise in Magellan shares. But the longer it takes to get some news, the more likely it will be that Magellan's share price can plummet as rapidly as it rose. The premarket bid at this time yesterday was over 70 cents and today it is barely over 50 cents.