Yeah I've taken a beating. Still believe in them long term. Going to double down now that its well below $50 again.
I've done a lot of research on this topic. If any of you wanna stop being kids and be real with your money I can get you some good rates on internet savings accounts and CDs. PM me.
Good lord, what is happening to the market? I do not understand why everyones pets heads are falling off?
Selling portion of profitable subsidiary to pay down debt on shitty energy business and fund $30 billion pension obligation is bullish
I like the new CEO. I think he has a shot to keep the above water. Like I said last week, it is a gamble, but I do think there is upside here.
new CEO seems sharp and also is taking necessary steps to try to keep the company afloat even though it's tanking the stock. filing chapter 11 and trying to start over might be the long term answer. i dont have any money invested or short this one. just interesting.
Sec filing regarding the California wildfire. https://www.sec.gov/Archives/edgar/data/75488/000114036118042983/form8k.htm There's an energy company that's likely/reasonably responsible....the total damage will be waaaaaay in excess of their insurance coverage.
They pushed out another 8-k on the 5th with an extensive slide deck (50+pages). I'm reading thru it now. They expect (net of insurance) to spend $2.6B on the Butte and Northern CA wildfires which includes legal fees. If youre interested, slide 6 has their plan of action. By 2023, 50% of opex will be capex relating to their Community Wildlife Safety Program. I'm gonna shoot CNN an email at lunch and see if I can't get some air time.
but they sold at a discount and it’s covering hardly any of their assload of debt right? i don’t see any reason for the stock price to jump up like it did
It’s back down now Sold at a discount relative to the stock price today and baker Hughes was trading 10 points higher 3 months ago. The new CEO seems sharp but he has a lot of work to do They offered zero guidance on the last earnings call so I think they even don’t know what will happen going forward
Someone teach me to short a stock. I think the California energy company will have a stock price that moves from $19 current price to under $10 by Jan 1......and under $5 by the summer. Citi has an estimate of a $15B liability. That'll bankrupt the company. Half of that would bankrupt the company. And there speculation that they're responsible for the campfire wildfire as well. Which has $15B coast as well.
shouldve done this two days ago! also, litigating those cases will take for fucking ever. it looks like the company had 17 billion in revenue last year.
on etrade go to the same screen you would to buy an equity and instead of buy select sell short from the drop down menu.
Basically, I want to do what this guy did: https://www.nytimes.com/2018/06/28/business/equifax-insider-trading-sec.html
You may not be able to see it because you are not approved for options trading. You should contact your broker / download the form to fill out to be authroized to trade options. There should be somewhere in your brokerage that you can find for "options trading"