Zion Oil & Gas Inc (ZNOG)

[JasonBourne]

I suggest reading the Seeking Alpha article if you haven't already.

At first, I didn't read the article because the author was being compensated for his time making it + he had short position which means he profits if it moves down (which the article intended to do).

Despite that, I took the time to read through the authors analysis. I assure you, if you take the time to read through it too and understand what he's saying, you wouldn't hold a position either. It's quite clear ZN doesn't seem to be very competent and this stock is likely a pump and dump scam. ZN has no further incentive to pump the stock up past the DSPP ending date, since they will no longer be making any money from investors (which will become clear when they eventually find no oil next week). ZN relies on 2-D surface imaging (the technology of which is over 30 years old) and "prayer" to find oil, not 3-D surface imaging which is the industry standard nowadays to find oil. That fact alone should be enough of a clue that the management is a bunch of morons. But there's a ton of other information included in the article that really shows that this company is a scam.

I exited my full position a few days ago. I do not believe this stock has any further momentum left in it, and those that hold are only holding on for the blind hope that they will strike oil (= not a smart way to trade, nor is it very likely).

If you haven't already, read through the SA article here, and THEN decide what you want to do with your shares:
https://seekingalpha.com/article/4090576-zion-oil-and-gas-drilling-dry-holes-til-0-will-bankruptcy-court-extreme-dilution-get-first

Edit: I don't do short-selling or options. I only trade penny stocks going long, as I don't have a margin account. So I'm not trying to manipulate the stock to move downward. Just giving you my thoughts on this stock and why this thing is most likely headed down from here.