Global Value Investing

[2morrowsGains]

PBG.toPBEGF/PBN.toPBKEF...May River hearing is still 6 months away and I think investors were hoping for this year. Also, this did not help..."Petrobank said it continues to consult with two parties that have filed statements of concern in an attempt to clarify and resolve outstanding issues before the hearing."
And suspensions at Cocklin may not bad news, but I think the way it was worded may have spooked some investors.

I'm guessing this mornings PBG PR added to the negative activity in PBN also. The PR has nothing at all to do w/ Petrobakken's operations, but those two stocks have been riding side by side.
PBN is also suffering from yesterday's downgrade.
There's also fear of a divi cut. I doubt they will cut the dividend entirely at this point. In fact, there has been no talk of cutting or adjusting the dividend from the company other than it's an "option". But management has always said it's an option. If they were to adjust the divi 50% we would still be earning 7%+.
With Petrobakken trading in the low $6's, today may not have been a bad day to grab a grip load w/ the intent of adding more if the price drops from here. But you never know. Time will tell.