I don't think the SP is being manipulated for a TO. That's usually just an excuse. Provide me with an example of where a company's SP was suppressed only to then see the board accept a cheap TO offer. I don't recall an example.
I don't think there's any CR risk anymore and assume the market is probably still spooked from S2/S3; any slightly negative news will kill the SP.
So what's left??
1) Flow test not so great. (low risk IMHO although the longer they test the more concerned I get) 2) Recent wells don't hit pay. (medium risk...could end up a duster) 3) Government continues to disallow exports. (high risk...some people must know the outcome already or at least why it was originally delayed)
The outcome of the last is probably most likely known given the amount of people involved in the report. My money is on this not going STX's way and the shorts know.
STX Price at posting:
20.0¢ Sentiment: Buy Disclosure: Not Held
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