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Why is this going down today? On the charts it looked positive now it drops 18%
More than 5 sells to every buy suggests the charts are wrong. As I said only worth what someone is willing to pay.
Like it or not other than offloading RRTL what else do the BOD have planned, they have said nothing of their plans nor any mention of trying, let alone selling rigs if they want out of O&G. At present the rigs are worth nothing, just like shares until you sell them, then they have a value.
I'm struggling to think of anything a failed O&G company could diversify into they just don't have the skillset for anything more technical tbh.
Only way they could is buy the expertise and that comes at a price, no doubt a price far higher than the cash they have in the bank.
STA Today:
3rd fastest faller in AIM
5th fastest faller overall
'Why is this going down today? On the charts it looked positive now it drops 18%'
80% rise in the last week, there are bound to be sellers after that. See what happens today.......may be another rise after profit taking.
Actually with a spread as wide as the Grand Canyon I doubt many sellers made a penny unless they held for quite some time.
This is moving on very low volumes with no real news, why would that be?
Actually it's the same as always, low volumes and no news.
What makes you think it's a different picture?
Same canvas to me.
'What makes you think it's a different picture?'
Because on Thursday you posted: 'More than 5 sells to every buy suggests the charts are wrong.' This was an exaggeration, but in any case on Friday we had 3 buys to every sell. I would therefore say that on Friday it was a different picture to the one you posted for Thursday.
My figures where correct at time of posting.
Do you also disagree with low volumes and movement on no news too?
'Do you also disagree with low volumes and movement on no news too?'
Low volumes, yes, no news, no.
So you disagree there is no news on anything this company have planned?
They have nothing planned and the RNS is just another failure to get paid on time. If they can't manage cashflow what else will they be able to manage?
Perhaps you'd like to elaborate as you seem to see the company far rosier than most on here?
So do please elaborate, what news has driven the share price lately? Or even over the last week?Perhaps another payment on time failing to emerge as per the RNS?
A company that for six months have said nothing of any plan or direction let alone what sector they plan to be in, then again if they can't manage cashflow what chance do they have actually doing that? What business are they in or even plan to be in?
It's a long time burning cash with no future plan on the table don't you agrees?
Please elaborate alfresco I'm sure all would love to know your take on the above.
Quite simply my view is more jam tomorrow, rinse and repeat. I'm quite direct and appreciate direct responses with simple explanations so fire away.
Looking forward to your full take on my comments.