LOL, Let me explain some simple facts.
First, as I have already explained several times, The company that has provided a simple credit facility to LGCY, is a publically traded company called the Blackstone Group, NYSE: BX.
Next, let me explain that since the funding agreement was announced on OCT. 25, 2016, both Legacy Reserves NASDAQ: LGCY and Blackstone Group NYSE: BX have enjoyed nice gains.
That means that those who were critical of the agreement at the time squandered not one, but two opportunities to enjoy profits.
LOL…
Since the announcement, Blackstone NYSE: BX went from $24 to a recent high $31.33.
During that same time period, LGCY has gone from a low of $1.30 to a recent high of $2.77.
The truly funny thing about these facts are, that while some claim that investing in Blackstone NYSE: BX is the only way to make money on this funding agreement, NASDAQ: LGCY has seen a gain of over 100%, while NYSE: BX has seen a gain of around 25% during the same time frame.
Since that time, Legacy Reserves has seen a percentage gain of roughly 4x the gains of The Blackstone Group. LOL…
Why would anyone publically claim the underperforming stock to be a better play?
FWIW, I publically stated here on ihub that I was adding LGCY in the $1.50/$1.60 range and cited the funding agreement with Blackstone as one of my main reasons.
For those who believe that LGCY is going to move lower from here (which it certainly could,) I invite them to actually bet against LGCY in the form of a physical short or option contract.
I just checked quotemedia.com and see plenty of open interest for those who are confident that LGCY moves lower.
I would love to hear how it works out for them, but to be honest, I already have a pretty good idea.
History tends to repeat itself over and over and over…
LOL, GLTU, IMO and FWIW.
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