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Walttortoise
with the markets as they are, and the external issues ....you cannot expect the share to not have fallen from what was an over bought position...it is the external issues affecting things .....no point anyone having anger over that
panic traders who speculate are often the cause as are panicking private investors too
Shares are moving within lower trading ranges and controlled by traders .....until data suggests a sentiment change
It's not a case of quick buck for a lot of people who have been riding this through for almost 2 years now.
The realism that occurs to me is when you look at estimated revenue fir this year and compare to even 2018, its far off the mark, and will take substantial orders to get anywhere near.
So it's now dawning on me that this could take another 2-3 years to fully recover.
Thanks Johny, my comments were a reaction to people puzzling/venting over why the share price had dropped back so much after the rally, as were yours if I recall , I wasnt really picking out the dates. The puzzlement does continue though, no doubt about it and it amounts to real frustration and at times anger from folk who've staked a lot on this stock. Thanks for giving me some credence, I'm not aways on the mark, no-one is in this game. My offer to Quetta to join our non existent bail out fund was a low point but ironically Quetta may have been closest to being right in his rantings about this stock. It continues to feel like "pump and dump" as he famously put it.
I do rate your posts Walter, but the 'realism' I was referring to was the expectations a lot of posters seemed to have, which was that they were going to get a 'quick buck' from PFC based on the fact of how far PFC has dropped over the last 5/6 years, and that because of that it was going to miraculously recover to those levels as soon as the SFC case was resolved.
Perhaps I was not clear.
Sorry Walter , a bit misleading when YOU choose the dates for comparison. It's like when fund managers et al choose to release performance figs, they choose the most flattering position for their argument which, IMHO, is the same as you are doing - FOR EG if you go back to, say 6th Apr and compare ,say BP to PFC you will see that the 2 shares price performances are very very similar, in fact PFC is slightly better - the fact is that PFC rose to much greater height in the period to May 16th than BP, and consequently the fall since then has been much greater.
If you want to go back to the beginning of the year ie YTD, the FTSE250 has performed worse than PFC, the DOW is roughly similar and the NASDAQ is considerably worse.
Closer to home Wood group is worse YTD than PFC and if you really want to play, Hunting has dropped 46% from it's peak at the beginning of June compared to PFC peak, in mid-May, at 34%
Don't accept your argument one bit Walter!
Thanks Poker and accept all that re finances. Point I'm making is that whole market drop still doesnt explain the inordinate drop in PFC share price since may?
Net debt - US$345 million, liquidity -US$507 million - 23 June 2022, with net debt expected to reduce in H2
H1 revenue c. US$0.5 billion.
Revenue is expected to be higher in H2, supported by strong order intake in the year to date.
Walttortoise,
For this kind of company that requires a lot of working capital.....the finances are much to be expected IMO and of no issue with regards the tenders they have put in... IMO
Johny if youre calling for realism and referring to the whiole market: FTSE, Dow Jones, NASDAQ indices all down by less that 10% since May. BP and Shell down by about 15% over same period. Petrofac down bu 36%, that's the reality so questions are rightly being asked. The issue is clearly a finanial one, contracts much less likely to be awarded to a company whose finances not great.
called for here. Most of us , including me thought we were on a roll a bit back and expectations were high, but things have turned for the WHOLE market unfortunately. It’s not JUST Petrofac!
Wood group have also attracted some more shorting, up to 2.49% now, which is twice that of PFC.
We ain’t gonna get a quick turn around with the market as it is, without some hefty orders coming in. Patience WILL be rewarded here- “The stock market is a device for transferring money from the impatient to the patient.” quote WB, as we are all aware.
Stay optimistic and stop expecting a quick buck!
Added a few more yesterday and will keep doing so, this is bargain basement price, even if it drops a little more!