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We need to hold 25p or above today to demonstrate a buy signal for further gains in the next few days......Can it Hold!!!
Evolve, could not agree more buddy. Hold on tightly as the golden goose will eventually lay them golden eggs, just matter of time patience. Yes it is a ramp as I sick of all the doom and gloom just when PFC are finally coming out of a torrid time involving that SFO investigation...this is a growth story in it's infancy and as such will a period of time to mature, people have just got to wake up that fact....
Bro-ken I like you rhyme!!!
"be it in a controlled manner with no short squeeze we longs would all like to see"
Share fall me you both, like you I really do believe this is a temporary situation, and as such been given a chance of life time and thus by the the end of 2024 we will be looking at a price near 100 not 20p like now. Patience and recovery of PFC needs time to play out, they have looking into the current problem of short term financials and this is being looked at and being sorted, and that happens the share will start to rise and shorts will move on be it in a controlled manner with the short squeeze we longs would all like to see, but hay-ho as long it comes good in the end what does it matter. If PFC does show good recovery then in 2026, 300 is possible. All IMHO. Good luck all as assuming no big war starts out in the middle east, then it is anyone's guess where stock prices will go including our pensions, especially uncertain time for people of age coming up to retirement as pensions could also drop due any more wars....not another one!!!!
Should have said,
".so the shorts have have given us longs and people like us a gift from the gods"
All I know is, you will never get a chance to buy so low again come another 6 months or so....so the shorts have have given us longs and people like us who want the company to carry on trading thus keeping safe the jobs for the 8500 workers to help keep a roof over their and their families head for the foreseeable future.
"Please Please Lord help all the LTH's. Thanks in advance!!."
Amers, my sentitmates exactly...only a higher power is going to help us from this price as the Shorters seem to have a strangle hold here - which will only be reversed with an RNS in the morning stating that the finance has been sorted....
Why has taken this long to notify the market? Stinks off collaboration with shorter's.
Hi George did not mean to offend anyone the only reason I am asking for clarification is there has been a lot talk about dilution to spread fear among us long term holders. I was just seeking clarification in regards if a dilution was to happen, I'm I correct in thinking that shorts would be further in the do-do as they would have to buy shares of the likes of you and me who will not let them have, meaning the share price as a result will actually be driven higher.
Sorry should have read;
"Say the price of the 10 new shares is set at 15p. To buy at 15p the 10 new shares they would have to hold 5 actual old shares."
The way I understand it any dilution will come through an offering of an share consolidation, eg. 10 shares for every 5 owned. Say the price of the 10 new shares is set at 15p. To buy at 15p the 10 new shares they would have to hold 3 actual old shares. So if short, the shorts do not own any old shares meaning they will have to buy 5 old shares on the open market in order to take part in share consolidation to buy 10 new shares at the cheaper price of 15p. So the more they short in the case of a share consolidation the harder it will be for the shorts to buy actual old shares on the open market. Can someone confirm my thinking is correct who understands these type of situations better than myself?
Mav, the MM's done a great job for their mates, raped the weak holders of their shares to protect shorter profits....stinks.
Talisman, I hope you are successful with your action on Monday, I know too how much there is a corrupt lot out there due to losing tons in Yell (Hibu).
Just shows, how quickly sentiment changes in this stock, everyone ecstatic was on release of the RNS on the 20th Dec which took the share price to an high of 42p, now doubt has crept in again with the price being slowly being driven down, causing the ones who were lucky enough or clever enough to buy in under 19/18p to sell out these last few days. Wish I had clocked out at 41p when I had the chance prior Christmas and then bought back at today's lower price having watched from the side lines . Now with sentiment being low with the shorts at 10% it is anyone's guess how low this could go again before shorts decide to exist as they well know by now this is not going bust and hence playing the long game, whilst no more news is released by PFC as to how they getting on with putting their finances in place. But I do believe IMO, this will eventual come good over the next year when the company final shows their hand and shuts off these doubts.
Though I do love seeing all the positivity on here after the Dec 20th RNS, we longs seem to being carried away here, let's see what 2024 brings us as 2023 has been personally for me terrible. Love, peace and good health and fortune to all true believers in. PFC.
"Exactly that Rock8. Shorts are Heavily Trapped Here. There aren't enough shares for them to buy back on free-float without a serious price incline. They overcooked it."
Orange moon, that is why I have set my sell at 350, before they can get a hold mine....
Happy Christmas day everyone.
A very well thought out and reasoned post. Thank you Orangemoon. I am even more exited about PfC's future prospects noin 2024 and eventual share price rise towards 100 than I was prior to reading your post.
Like you Petro, I have averaged down and averaged down along way down. Now waiting for my big Goose to lay the Golden Egg of 500, then I am going to forget this whole sorry mess I got myself into of share trading, from my first ever buy when I bought Rolls Royce the day it got floated way back in 1987 if my memory serves me right. As 500 mark will more or less cancel my losses over those years of worrying about if my portfolio goes up or down, my experience it has been mainly down. GLA LT's
Sorry if hosted already;
Petrofac Limited (LSE:PFC) shot up 50% as shorters cashed in their positions after the oil and gas installation specialist announced another big order.
Before today, Petrofac was one of the most shorted companies on the London market due to its huge debts, a string of profit warnings and run of bribery scandals.
Today’s announcement of another US$1.4 billion contract with TenneT suggests, however, that the mood might be changing.
Orders currently total US$6.8 billion and will have risen to US$8 billion by the end of the year, said the statement.
How does that square with a market value of just £174 million at 33.6p, that’s even with the 50% rise.
To put things into context, at its peak five years ago Petrofac was worth almost £3 billion and as always there was some bad news.
Net debt is expected to be modestly higher than at the interim results, with any free cash flow generated offset by an increase in collateral required for guarantees on the huge new contracts.
Shares added 56% to 34.9p.