2. "A buyer will be confirmed within weeks with cash-strapped Karoon selling either a majority of its holding, close to 30 per cent, or exiting entirely."
This is the most important part.
If the company was selling while flushed with success, I'd understand all the back slapping.
The fact is the fire sale is on due to imminent disaster.
Once this opens on any positive news the scramble to lock in profits & exit will be monumental.
Once it opens on any negative news the descent will be as legendary as MEO's, etc, etc. It'll make the Marianna Trench look like the trail of a rattler through the desert sands.
No matter how you look at it a band aid is only a band aid. And band aids always fall off.
Just my opinion, as all the back slapping was making me nauseous.
Best to all holders long or short.
KAR Price at posting:
$2.46 Sentiment: None Disclosure: Not Held
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