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My humble opinion is the shorters will have one more week to make hay and then a fair few will cash out. I might be wrong but I’m putting my money where my mouth is and will keep buying this week. Good luck all
I agree DanielM the shorts have got to be running out of headroom now. Smaller firms shorting are dicing with death as we edge closer to the 20th. Petrofac have a solid history of refinancing even under unfavourable circumstances. My only concern is when they do I will need to take up some kind of extreme sports to fill the adrenaline void! Will be holding now for a longtime with a mid twenties average after pumping another load into this share
Good point made E_al, at the end of the day should petrofac need to raise finance there are many options available. That’s if they actually need to do anything and this isn’t just a big con on behalf of the shorts. I won’t be selling. I will be adding next week
For me Dark Knight this is a coordinated attack and as far as I’m concerned nothing has changed with this company. I’ve watched many companies go into administration and none of the red flags are present here. No issues with supplier and subcontractor payments,in fact the opposite as they take new subcontractor on. The only thing I’m envious of is the huge profits some will make after hedging at 17p!
So far today the movement of this share has changed significantly. I can only think it aligns with the start of Cop28. I mean with the hosts cop28 is more about making oil deals than anything vaguely environmentally related. Good old sunak, Charlie and Cameron blasting out on the private jets 👍