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RD Thanks for the explanation!
RD Thanks for your clarification. I assume this is not just your personal interpretation. I state this because some time ago there was a chance to subsribe to even more shares by paying an additional cent per share if I remember correcly.
palaypu0406 Tokenization of these assets is never heard of in the markets and we are expecting tremendous response as it shifts wealth building from traditional investments - stocks, bonds, and mutual funds." It will be very intersting to see how the response will evolve.
stark I am no trader. You seem to me to be extremely. Are you able to understand and assess my statements? What is wrong in them?
starkd748 "Chart never lies" Does this statement mean anything at all? Does it tell where the stock price will move in the future? Of course it does not. The chart only reflects where the pps has moved in the past. The buyers and sellers of shares are not omiscient. People sell shares for all kinds of reasons. This affects the stock price and therefore the chart. Things happen that nobody can know in advance. Such things may affect the stock price and therefore the chart. I think your statement is so much nonsense.
Very encouraging! I look forward to receiving some cash.
down With the benefit of hindsight one normally regrets selling shares at a certain price when the pps rises fast afterwards. I sold my shares in BDCO largely to invest in TIO/TMNA instead. It turned out that I chose the wrong horse. So did you. If I had chosen the right horse I could have roughly quadrupled my money in a few weeks.
I think the following is so much nonsense: "The only thing holding the shares back at this point is the uncertainty around its debt." I assume there is still some uncertainty about the debt, but it is much reduced compared with the past situation. If the creditors share your rosy view about the future there is not much reason for being worried about the current. Net assets are now significant.
The crucial point is that the whole business has gloomy prospects in the view of the stock market. Of course you may be right but I trust the stock market more than your rosy assessment. The gloom prospects for the business is reflected in a very low p/e for companies in the business BDCO operates. But of course BDCO is more attractive as an investment at below 4 dollars than above 6 dollars. I think there is a good chance that the pps will recover some more. Right now the crack spread for jet fuel than the futures price some weeks ago suggested. Looking ahead several months the price is much lower.
gosox "Seems to me he's making some important PUBLIC STATEMENTS here about his confidence in the next few quarters." What is the use of enerating paper profits during the next few quarters? Do you think he will sell the shares if the crack spread evolved in a negative way after a few quarters?
I find it very interesting that the pps is up 25%at the same time as the volume of trading is high? Are these buyers morons?
Dawg Only 100 shares traded at $ 0.083! "
08/22/2023 15:35:59
0.083
0.01 100" This is just an attempt to deceive the market I t hink. Even you were deceived. I have noticed in the past that often a high number of shares are traded at the bid and very few shares are traded at the asked price.
zero "As such, the Company and the independent auditors require additional time to complete the preparation of the Form 10-Q and financial statements." It is new to me that independent auditors normally prepare Form 10-Q in general. It is the annual and not the quarterly filed numbers that are audited.
gosox
"How about this: He knows every detail of what is happening with the company and feels that this is a chance easily to make considerable money given a share price of less than $4.00. He sees how this quarter (now almost 2/3 through) is progressing, so he knows what's to come."
He seems to have the attitude not to sell shares when it would be financially rewarding for him to do so. If that is the case any purchase of shares by him is a very long-term speculation. He will not make any money before the 45,000 shares he bought are sold at some date in the probably quite distant future. He is even quite unsure how the crack spread will evolve in the coming monhs. He refers to unclear prospects for this period. He does not know what is to come. I find your line of reasoning in this paragraph totally unconvincing.
"He already owns 12 million shares so why plunk down an additional $170,000 to buy 45,000 more shares when he clearly has more than enough? . $170,000 is a lot of money by anyone's standards." I have provided one or more possible explanations before. You have yourself provided that explanation in the next paragraph - a no-cost PR
One other point: This company issues practically no PRs, so maybe his Form 4 filings are also a way of announcing to would-be investors that the company is seriously under-valued. In other words, a no-cost PR. Even though the financial status of the company has been substantially improved the company is not fully out of the woods yet. As far as I remember there is still debt that should have been paid already. When he purchases sharesthe market responds with a higher pps and some creditors may have their nerves calmed if they are jittery that the debt the company has to them may not be paid. I regard this line of reasoning as stronger than your reasoning about making money in a situation where the CEO does not trade his shares like the rest of us.
down I am not an American mindset that people only express their opinions to promote their own financial interests. I often present negative comments on stocks where I am a shareholder. I did so today. Check TMNA. Regarding BEDO I am not a shareholder right now after I sold 2,000 shares at about $ 3.14. I don't intend to buy back in the months to come. I am still interested in the reasons for the CEO buying shares where he own the bulk of the outstanding shares already. I also have an intellectual interest in the future stock price of BDCO to see how right or wrong my assessments have been.
"Although progress has been made with regard to the independent review of the allegations made in the Hindenburg short-seller report, the independent review is still ongoing. As such, the Company and the independent auditors require additional time to complete the preparation of the Form 10-Q and financial statements."
When the above is seen on the background of what was in the preceding PR not so many hours earlier one possible interpretation is that the leaders of TIO are accomplished and cynical crooks. What is stated above must have been known some hours earlier too. Was that earlier PR an attempt to sell as many shares as possible before the stark and dire truth was only published after trading in the stock had stopped?
I expect the very negative indefinite delay of TIO reporting its numbers for the second quarter will have a very negative effect on the pps of this stock too.
I regard the new delay of the quarterly report as very negative and as very surprising since it comes very late in relation to the time the reporting was supposed to happen. Just a few hours basisreport the opposite was communicated. The contents of the latest PR suggest that there had been no basis for what was stated earlier yesterday.
gosox "Quite a purchase for a guy who already owns 12 million shares." My viewuld is that because he owns so many shares already it means next to no difference to his stake. It would have been more positive if he had owned for instance 100 k shares before the purchase. But of course you may understand this better than I do.
down To me it is neither positive or negative. It probably does not mean anything in my view.
It is interesting that the pps of TIO is on the way down whereas the pps of TMNA is rising substantially on significant volume of trading. Hows come?
zero I regard it as positive that there are no more delays regarding the numbers for the second quarter.
down First I iwould like to make a general comment. Investors whether insiders or not normally buy a stock ahen they expect the pps to rise as a way to make money. There is not much difference between insiders and others in this respect. The stock market things that insiders are more knowledgeable than others when it comes to assessing the future prospects than others. Therefore it is generally seen as an indication that the pps will rise in the near-term when insiders buy shares.
In practice insiders too make mistakes in their assessment. It comes to mind a stock in my country. It related to a smart watch for children. The pps had fallen a good deal and one or more insiders bought shares for 3 dollars. The slide continued and the pps dropped as low as about 8 dollars.
40 years ago I visited companies in the UK, the USA and Canada and talked to managements. That turned out to be no good idea. The reason is that manatements need to be excessively optimistic to do their best the way I see it. They view the future of their companies with rosy-colored glasses.
BDCO has been in a precarious financial positiion and in this situation it is beneficial in relation to creditors that the market cap is as high as possible. This reduces their financial risk. It makes it easier for the company to sell shares to pay some of the debt. Whyen a CEO owns almost all the shares it therefore makes good sense to buy a few more shares to support the stock price. The bigger stake such a CEO has the more this reasoning applies. I viery much doubt that the CEO of this company thinks that increasing his stake a bit more is the best way he can spend his money. Generally it is a very good idea not to have all one's net worth in one single stock.
down Im am not convinced that this statement holds true in all cases.
down I think that yours is a reasonably fair assessment. But I wonder who is interested in a buy-out. I know that some attach much importance to the CEO increasing his stake marginally even if he owns almost the whole company. I don't share that view as I have stated before.
modes What is current? Based on the latest quarter BDCO has no p/e ratio because there was a loss. Both companies had extraordinary profits during the last 4 quarters as far as I can see. What is of most interest is what earnings per share can be expected to be the next couple of years. My guess is 1.5 dollars. If that is realistic the current pps is low. But a very low p/e ratio can be expected because long-term prospects are not rosy in this business.
barn I regard your reasoning as very unconvincing. The name of the game is generating profits that reflect the market cap of the company. Building a lot of factories all over the world involves very high expenses and is no panacea when it comes to generating high profits.
This stock looks absurdly overpriced to me. I don't see what is so attractive about this car-producer.
modes You mention PBF which is a much bigger company than BDCO. The trailing price/earnings ratio of PBF says a lot regarding the future pberospects in this business. "PE Ratio (TTM) 1.81". I think every shareholder in BDCO should pay a good deal of attention to this number. Assuming BDCO generates one dollar of earnings per share in the second quarter and the same p/e ratio applies the current pps of BDCO seems to be about right.
down "and as they continue to whittle down debt, should be able to generate more consistent earnings." I turehink you are exaggerating the influence the interest charge has on earnings per share. I tried to make a calculation in my head not so long ago and published my number some time ago. Nobody commented on that number. Earnings per share are not likely to be consistent in this business. The price of crude and refined products are likely to fluctuate a good deal in the future too.
down "Bottom line, demand for refined petroleum will remain high for a long time." I agree. But before the total xonsumption of refined petroleum will begin to fall in a few years. Even if no new refineries are built in the USA this is not the case at all in other parts of the world. Refined petroluem is shipped from one country to another.
I will not be many years before battery-driven aircraft are taken into use but that will only be fairly short-distance aircraft. I assume that the demand for jet fuel will do better than the demand for for instance fuel oil.
A very important factor is the climate. The very high temperatures we have seen in various parts of the world during recent years will probably accelerate the move away from products based on petroleum.
down Electric cars don't represent the only alrernative.Burning hydrogen is another,
down I have checked an assessment of prospects for refiners. Near-term prospects are regarded as fairly good but long-term prospects less rosy.
"Various drivers will affect refining margins in the near term, but the greatest uncertainty is demand outlook and significant volatility. By focusing on the two levers mentioned above, players can use this as an opportunity to reposition to become more resilient in a potentially challenging long-term environment."
The stock price down by a third! 4.05 / 4.19 (137 x 100
Unclear peospects
"The general outlook for the oil and natural gas industry for the remainder of 2023 remains unclear given uncertainty surrounding the capital, credit, and commodity markets, financial institution health, the lingering Russian military conflict with Ukraine and associated sanctions on Russian crude products, the recession, and inflation. We can provide no assurances that refining margins and demand will remain at current levels."
RD It should not be surprising. The poster who expected 50 cents in earnings per share has at least shown his inability to understand the implications of the facts that were available. I tried to present a range of earnings per share that was optimistic. The lowest number in my range was 25 cents. The numbers were worse than even your range if I remember it correctly.I think it was between break-even and 30 cents earnins per share. Perhaps all the wishful thinking of most posters will abate a bit now?
Dawg "Maybe it worked to shake out daytraders, but maybe they did it knowing theyd short a ton more... and now institutions are soaking up all those shares that pro shorts thought they could have recovered from retail... except that the institutions bought those up and shorts are still stuck??????"
I find it very interesting that a number of institutions act the way they do. They don't seem to be very worried that the pps of TIO will collapse before long. I find it intriguing that so many of them seem so calm in the current situation. it would have been natural to have expected them to be very woorried in view of the Hindenburg report.
Dawg "TIO at price 1.20 = $52 million in assets for now." That would be more than 4 cents per share as far as I can see.
Dawg You start with TMNA and then you suddenly switch to share purchases in a different company as far as I am able to see - TIO. The important point is if the relationship and agreements between these two companies are still valid in practice. The stock market seems to assume they are not. Therefore it is uncertion if the fact that institutions buy shares in TIO is of much relevance to the pps in TMNA. Does anyone have the courage to address this issue?
Volume of trading 30 million shares.Up 18%. This stock is a conundrum.
Boca The all-important question is the report the market is presumably expecting within a few days. If it is construed as positive I think the pps will soar. If it is negative I think the pps will plummet.
RD Thanks! That was the alternative I considered. Therefore it came as a surprise when I read the question and the reply. After all, it was not very long ago that ITUP was supposed to pay a similar cash dividend to its shareholders.