DOW might be down tonight...quite likely...a lot of eyes will be on CNP.
Many on the sidelines.
If CNP delievers what we expect...."dismal results"...we'll all dirty laundry aired and 20cents may be history.
The market I believe has already priced in everything including a bomb to the head office.
If we get what we think is coming which is terrible results but no formal closure...then CNP should start to move.
From there...we need formal notice though the ASX that CNP has an extension to repay debt.
The timeline will define the price.
1 year more...I would expect to see a doubling of the price over a week or 2.
2 years....sorry...I think I am dreaming.
I do believe CNP has done some very smart business and will force and extension on those that loaned them the money....sad but true....wind CNP up now....and you may be looking at 11 cents in the dollar....wait 52 weeks...probably 100 cents in the dollar.
I dont know for sure...but seen it all with MFS..now OCV...the thing is though...CNP actually posiutioned themselves perfectly.
Good luck you'll....asta manana!
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Held