I added at 7.4 due to the earlier AH pop to almost 8 on strong vol and pulling back in low 7s and putting in another bottom/higher low. As I said before sitting around 30% short.. but let’s expand on that.. There are around 270 million shares, about 36% owned by insiders and another. 30%+ owned by institutions.. Given that we now have a 96m or so float if which 30% of is short.. The finalized deal has an implied value of around 6x their market cap.. and total initial investment was at $10/share
the energy sector has been one of the best performing and this is lagging behind its peers by an extreme amount.. heavy consolidation in the 8-8.2s trading 150-200% average vol last two days. Should rip hard and fast sooner than later.