MEO sp gone up quick because SCI has mentioned about the MEO in their recommendation last week. That is the only reason. It's sp has been low long time before SCI said it last week.
MEO sp cannot compare with KAR because KAR has CoP as the JV and MEO has no major oil company jv. Without major oil company jv, and imagine just MEO to explore and drill the permits themself, it will take them long long time. I guess this is another reason why MEO sp has been around 15c. It will take too long a way to have rewards to the share holders. Especially to those day traders and short term traders.
IMO, MEO sp will come down significantly once the heat is over. Perhaps by this week. No one will be interested in this long awaited rewards except long term holders. Atm, it is just the best time for day traders to make more money. Long term holders will get burnt after the day traders left the stock.
Again, don't forget SCI has also recommended buy LNC long time ago. See what happen now. A lot of long term holders are in blood shade. Not sure what to do with LNC.
MEO Price at posting:
24.5¢ Sentiment: None Disclosure: Not Held
