Karoon has been attacked by shorters- Ive heard all the theories about why shorters are good for the market. They are bad for vulnerable exploration companies who need to raise capital to fund growth - they destroy confidence, and have done this with Karoon.
This company has done amazingly well with the assets it has, even selling Posidon before the oil price tanked - I doubt they would get the same price today. They find three oil discoveries and the price stays between 2-3 dollars.- Enough reason to privatize the business. Then you wouldn't be stuck with a shorted share price when needing capital.
Karoon's Management has done a great job - this market doesn't want to fund growth companies anymore!
Why is it so?, page-27
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$1.87 |
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Mkt cap ! $1.498B | |||
| Open | High | Low | Value | Volume |
| $1.88 | $1.88 | $1.86 | $5.061M | 2.710M |
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| Price($) | Vol. | No. |
|---|---|---|
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