The last articles about WFT have been upbeat and promising. I speculate its just the market; SLB down $2, BHI down $1.2, HAL down $1.5 and WFT down a buck or so over the last 5 days.... I can imagine all the scare cats are pulling out on this pull back. The price is getting about right for another huge buy in from an investor.
without any hard fact bad news my only reasoning would be there are more sellers today than buyers. Supply and demand. Some ones' idea of a good time to sell off or some of their holdings is another persons idea of a good time to buy a lot or just some more. You cant argue that the stock has performed well this year but must consider that folks who bought in around 9/10 are cashing out because they dont think it will keep going or they found another better adventure to pursue. Maybe there will be more buyers than sellers by end of day/week. There will always be pull backs and up-ticks no matter which way the chart points. Supply and demand is my guess.
It will take time for WFT to pay off its' debt. I do think we will see less of it. The company has laid off and cut back on employees, cut costs, streamlined processes, and tightened up the budgets. It may not show this quarter but surely by 1st qtr 2014. That is my opinion. The performance of the stock leads me to believe that others feel this way too. IF they have turned this ship around by years end then we are smooth sailing for sure.
This is just and only my opinion. Look at a max chart comparing HAL $51, BHI $51, SLB $91, and WFT $16. I think the fair market value of this stock should be in the $30 range. With that said; where would your next 100% gain come from? BHI and HAL getting to $100, SLB getting to $180 OR..... WFT hitting $35 ???? WFT will not lag its piers forever and its true value should come into play soon. Just my opinion........