It is becoming quite apparent to me that ARQ is now being sold out of frustration.
Big holders and small holders are selling because "nothing will make this stock move" and putting their money elsewhere.
The catalyst to me has been the failure of the stock to make a significant move north on three successful development wells in a row combined with Lyginia being dry.
"What's the point in holding," the reasoning goes. "Any good development well does nothing. And all they drill are dry exploration holes."
When this sort of frustration occurs a stock often goes well below fair value and is usually somewhere near its lows.
I still believe there is a good argument for an on market buy back if ARQ Management believe they are using their cash to buy back ARQ assets on the cheap.
ARQ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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