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If you were a board member would you? What will happen to the share price after the R/S? That is a big consideration to make before shelling out big bucks. They aren't obligated to purchase anything. It's easy to say what someone should do when it's not your money.
esteem...based on what? Conjecture? How are you coming up with these random numbers? I am holding on to my shares although reverse splits historically are not kind to a stocks share price following the split. There are exceptions, however, and those are typically with companies with sound fundamentals. I am cautiously optimistic about Nuverra but I don't expect things to really turn around until next Q2.
We all know that Q4 is not going to be great. They already told us that in so many words. However, I don't agree that Q1 has to be great. I think Q1 needs to show that Nuverra is turning the corner and changes that have been implemented are panning out. I do believe that the Q2 announcement will be a critical. Enough time will have passed after the Q3 announcement to get a real good indication as to the future direction this company is going. It will be time to deliver!
It's not a matter of me not being able "to let them go." It is a decision that I have thought over carefully. Another thing, the reason for the R/S besides increasing the share price is to attract institutional investors.
Who knows. The decline over the past two days seems excessive considering the R/S was a known factor. I would like to think we have seen the bottom but every time I think so I am proven wrong. Maybe we see a bounce this afternoon? Again, who knows. There is no way of predicting the direction of the price until 12/3. One thing we do know is that NES is a very volatile stock right now so day traders may be having a field day with this. Again, panic selling would be a mistake IMO.
Doesn't make a whole lot of sense does it? This was not exactly news this morning, just confirming what they already told us. Still think it is foolish to sell now IMO. Expecting things to turn in the coming months. It's a paper loss right now.
How can you compare those 3 to Dan Nelson? Nelson is a player with 32 years of experience in the field. He brings much needed credibility to Nuverra. The 3 you mention are nothing but window dressing.
I don't see this as desperation. They are doing what they said they would do within the time frame they said they would do it. Selling off after the R/S announcement this morning was to be expected but I don't see this retracing back to the low $1.60's today. The R/S was already baked into the price with all of the other negative stuff from the Q3 announcement. The PPS has actually rebounded nicely off of its lows following the announcement. I agree, however, the jury is still out on what affect the R/S will have on the stock price. Reverse splits are usually seen as a negative but it may very well work with Nuverra. Despite all of the negativity coming out of the Q3 CC there were some positive things that could make 2014 a very good year. Dan Nelson joining Nuverra was a great start.
No doubt. Nelson is a major player in the industry and may very well be the BEST step the company has taken in quite awhile. Bringing him on board is one of the reasons to be optimistic about Nuverra going forward. There where other positives mentioned in the Q3 announcement if you listened for them. Patience will be the key here. It looks like things should take a turn for the better during Q1 and Q2 of 2014. If not then there is real reason for concern.
Nelson brings not only experience in the field but much needed credibility to Nuverra. This is a major addition to the company.
I think it has been oversold since the Q3 announcement. It seems unusually quiet around here the last couple of days despite the nice gains. I'm afraid many folks got out. I wouldn't have sold during the panic selling. Need to find a new bottom though as porscha suggested.
Porscha...regarding the removal of a post submitted by fredugsi: I don't know the specifics but if there was no profanity or other violations I would ask you to please resubmit fredugsi's post. Especially if the only discrepancy was repeating two words from a previous post. I want to go on record stating that fredugsi's posts are relevant and well thought out. I always read his/her posts because I know it will contain something other than nonsense. Please reconsider. The board needs more insightful posters like fredugsi!
scott...I don't know. I think you are torturing yourself by continuing to follow Nuverra. If you are completely out why don't you cut ties completely and never look back. Watching this message board and posting messages will drive you nuts, especially if the price does rebound. Believe me, I feel your frustration and possible anger, but if you're out I wouldn't even follow this stock anymore.
Hampden...really good post! I agree with you regarding the 30 day wash sale rule. Many factors to consider. If the drop hadn't been as much as it was then folks wouldn't be struggling with their decision to sell or not. I personally feel, like you mentioned, the expected weak Q4 is partially, if not fully, baked into the PPS. I feel at these levels there is more upside than downside and will hold on. As I've stated it's a paper loss until sold.
Not a bad strategy if you need the write off. Nuverra's stock price is so unpredictable I wouldn't even think about trying to guess what the PPS might be in 30 days. I expected it to go down again today and so far it's up. Might it rebound some in a month? Who knows?
JMHO, but I would think twice about throwing good money after bad. I have added on dips in the past but will not do so after the Q3 debacle. I was bullish but now I don't know what to think. I will still hold on to my shares. I think Nuverra MAY eventually get their act together. I am done averaging down. I just feel any new money can be best invested elsewhere.
It would be disturbing, to say the least, if we haven't already seen the bottom. I cringed when I heard the R/S mentioned. They usually don't work unless the company has strong management in place with credibility. Yes, I think we now have a credibility issue based on inept statements made during the Q3 CC and the continuing over promising of future results each quarter. For a R/S to work the direction of the company should also be bullish. Is it with Nuverra? It appears to me the real reason for the R/S is to make sure they don't get delisted off the NYSE. I'm not selling now because I do expect a rebound. The question is how big will the rebound be? Q3 was a major disappointment on so many levels although there is hope. The positives mentioned COULD lead to a very good 2014. As shareholders we are in a conundrum. The price dropped so much after the Q3 announcement that we have to choose to either take a big hit and sell (right now it's just a paper loss) or continue to hold and hope to at least get some of our investment back. I will gamble on the latter as frustrating and pissed off as I may be. I don't like being lied to yet it seems deceptive to me that Johnsrud would purchase shares at $2.32. Doesn't that signal to shareholders confidence within the company? Or is he an incompetent buffoon?
I don't believe the bankruptcy theory for one second. I think they are doing everything to make sure that doesn't happen. However, I keep waiting for the bottom. I sure as hell wouldn't sell here and guarantee a loss. I would expect at some point the PPS should rebound but to what level? There is so much bad news right now that everyone is trying to get out. Might not be the best strategy. I'm not suggesting we see a major price increase, but why sell at the bottom with the rest of the emotional sellers. Remember there are buyers for each of these sellers. Why would they buy? I'm thinking because we may have seen what may be the bottom or very near it. Don't forget there were some good things in the announcement though most of it was a debacle.
fredugsi...you may be right but right now it is only a paper loss. Besides, Nuverra isn't my whole portfolio. I don't see a reason for anyone to sell at these lows unless they need the money or they just believe it will go lower.
Dinvest70...I hope you receive that call back today. Nuverra is very good returning investor's calls. I'm sure they have their hands full today! I don't know what you plan on asking but if you learn anything pertinent would you mind sharing it with this board? TIA
porscha...I'm with you. It is what it is at this point. I agree that there ARE some positive things going forward as you posted. Selling today would be an emotional mistake IMO. I see a recovery in the stock price. Maybe not back to $2.40 anytime soon but I don't believe the price will stay at the low levels we are seeing at the opening this morning for very long.
IMO trading after hours is never a good idea. I think what happened after the announcement was panic selling. Since the volume was not very much after hours the PPS of the trades was exaggerated. It was not a great announcement by any stretch. But if you read it carefully and listened to the CC things are not as dire as may appear. I think pulling the trigger and selling shares AH today will prove to have been a big mistake. Who knows what NES opens at tomorrow. I would expect a rather volatile first hour with some initial selling and then cooler heads will prevail followed by a rebound. I wouldn't expect to see $2.40 again tomorrow but I certainly don't expect to end the day under $2.00 either. I think next week will prove to be interesting as well after everyone settles down and has time to fully digest the information from today. No, we didn't get the Q3 we wanted, but 2014 could be very good! I am not selling.
According to Nuverra's web site 4:30 ET.
This stock is impossible to predict. If bad news was coming tomorrow we would have already had a preliminary announcement based on past history. I wouldn't at all be surprised to see the PPS come back today and finish strong, say around $2.42. Volume is already picking up.
Worried about a short squeeze? EOM
fredugsi...you are absolutely correct. No excuses this quarter. Time to start delivering. Poor fundamentals and technicals will follow on a bobsled straight to you know where. IMO, however, I think Nuverra will announce a very solid Q3 with positive guidance for Q4 and 2014.
MissionIR...good technical info. oem
No preliminary announcement today before the opening bell so it's not likely we'll get one prior to the Q3 report. Good news! I would be shocked if we didn't finish in the green today. I expect shorts to continue to cover going into the Q3 announcement as well. The stock has been performing beautifully since last Fridays gains.
Gee...um...thanks. eom
Holding gains from last Friday which is nice to see for a change. Sentiment has changed. Looking very bullish going forward. After a slight pause appears ready to climb. Don't know why anyone would consider selling at this time.
Let's see if this momentum can carry through to the closing bell. Could even pick up some.
Thanks jld3294. I spoke with Kathy Price prior to the management changes and she reiterated to you what she told me. I asked her specifically about the first 3 items of your response and I received the same answer. I am hoping we don't hear a peep from NES prior to the Q3 announcement. I also feel the same as you...not selling! Nuverra seems to genuinely care about its investors unlike some companies. Always nice to speak to someone directly (instead of e-mail being the only option) and have that person actually return the call.
uptick09...you're right, prior to the opening bell. It may give us a clue as to how the HAL/NES work is coming along.
Strong close with increasing volume. A lot of folks were expecting a sell off today. Maybe this momentum carries into next week. Yesterdays news was a non-factor on the stock price. Some wanted in before the weekend.
Well, you could be right about that because I don't believe in coincidences. But even if that comes to fruition I don't think Nuverra is in trouble because of it. They had to know for some time this was coming. Of course this is all speculation. This is yesterdays news...no big sell off today with the stock holding up well so far). I think Nuverra will be just fine.
I wouldn't expect a preliminary report from Nuverra unless the company expects to miss Q3 numbers or lowers forward guidance. No preliminary report is a good sign IMO. Remember what they did prior to the Q2 announcement? They released a preliminary report about 8 days prior to the earnings date. I spoke with Kathy Price from Investor Relations about this and she said it was done to prepare investors for the actual earnings report. That tells me that if we don't hear any preliminary info regarding the earnings prior to the Q3 report then the earnings report should not contain any disappointing information. I think this is a reasonable assumption based on what I was told via a telephone conversation. I also get the sense that the changes announced yesterday are not as bad as would seem at first blush. I believe there is a changing at the guard and the future IS looking good. The company is restructuring itself to succeed going forward. I don't think they felt Mr. Gordon was going to be an asset, for whatever reason. If not, restructure now before things really blossom. Successful companies DO make changes, even with a president and COO. It's the companies that neglect to make the necessary changes out of fear that ultimately will fail.
scott88...at what price? Don't forget every trade includes a seller AND a buyer. The difference is if the sale is closer to the bid or ask price.
November 4th
Jld3294...I am long on Nuverra. "Amping up?" I would like to see the volume increase more on the up days than on the down ones. Typically the volume has been increasing significantly on the down days. All it will take today, based on the volume so far, is for a few big bids to go through and todays gains will be cut or disappear quickly. We'll see how we fair near the bell. I do hope you are right though. I am tired of NES getting slapped around like a penny stock. However, at its current PPS it is what it is.