JG
Fair enough and I apologize for the accusation.
You have to see what jackknife is omitting to have a balanced view. He’s only highlighting the negative which the BOD have recently answered quite convincingly.
JG are you jacknike?
That all sounds very sensible but he’s conveniently ignoring any income and advance payments on the already awarded $8billion.
If there was no income then he has an argument but seriously???
PFC doing better in the USA this week?
https://www.marketwatch.com/investing/stock/pofcy
Https://www.boerse-frankfurt.de/bond/usg7052taf87-petrofac-ltd-9-75-21-26
L-lizard1
Made me laugh!
However, once cash flow is sorted, debt reduces and dividends reinstated etc, (not my words but the managements) with $8B contracts awarded in 2023 and $60B up for grabs this year, do the sums?
£2 SP would only value the business at £1B still cheap considering
In summary
It’s a casino for now!
SP could be £2 by end of January or 20p
Place your bets ladies and gentlemen
I guess the main threat (liquidation) has gone away. The business does appear to have a future once the legacy contracts are finished and the cash flow issues are dealt with, which is increasingly likely.
Happy new year and all the very best to all longs and shorts because let’s be honest here, without the shorts we would not have such opportunities to buy this low.
Stu
You’d hope their target was sensible and unless they’re all on the phone to each other, then they’ll be wondering the same. I would imagine one or 2 may collude but not 7. My guess (and it’s only a guess) is the main players Helikon and Astaris have increased from mid/late 30’s and are instrumental in the current demise. Other short positions watching from the sidelines waiting for their exit. It’s a waiting game for all of us. I diluted yesterday but still hold and will either average down again or average up once I’m certain the shorts are leaving the building.
Recent SP movement appears completely under the control of the shorts, they lost temporary control when the positive RNS was released. All the doom sayers claiming the shorts had inside information were clearly wrong because they increased their positions right up to the trading update.
Subsequent to the trading update, the bulls took charge and a flurry of buys drove the SP upto a measly 30p ish, closely followed by MW reducing 0.10% which somehow drove the SP to 40p.
Boards full of “shorts burning “encouraging more PI’s to buy.
Beginning of 2024 and down she goes again! After all the hype and positive news from the company.
The cash flow issue isn’t going to be resolved in 5 minutes, this is the information the shorts know about and as a result they have the power to place the sp exactly where they want it, for now anyway.
The only blindside for the shorts until later in Q1 is a takeover bid.
Hello dogger
Just unblocked you to see what important information you shared with us.
Mind blowing, it’s over!DYOR Really? Did you bother to read the latest RNS.
Unfortunately the games aren’t over which will hurt sentiment but unless the company is breaking the law and making false reports it’s definitely not over.
At some point and I suspect sooner rather than later the shorts will depart, the cash flow will be restored and further contracts will be awarded.
I’ve sold a few today but still hold a decent amount and will buy again when I think the time is right?
Somewhat agree and the hard part will be identifying the bottom, I’ve reduced today but still hold a fair few. I would expect the reversal to be severe as when MW reduced last week however the million dollar question is what’s their target. The business isn’t going bust, that’s been put to bed IMO, however there are over 50million shares on loan so the shorts will pull out all the stops to drag it down as today’s action proves.
Still can’t believe how cheap this market valuation is???
Daz
Unfortunately I think you may be correct.
I liked the December RNS’s but unless the shorts close or the company resolves the cash flow completely then it’s anyone’s guess. SP is severely undervalued in my opinion but that doesn’t stop it dropping (for now)
I’ve seen this too many times with PFC
I’ve just sold 153k shares in 4 sales, the last one being 100k.
I’m over exposed and still holding around 230k but am getting bored which may well play into the shorts hands but I have to protect myself
Glalth
Looks more like the bots are at work as the buying pressure has eased and volume is dropping the bots can bring the price down to allow the short sellers to exit with less pain. Either that or our old friends at Helikon had too much champagne over new years and are borrowing more shares. We will have to wait to find out but if MW are using the bots then expect a good rise into today’s close.