With WGO's price performance, I can somewhat understand why it underperformed. Let's forget the Spanish "asset" for the moment... but essentially, its only true asset was 50% in EP469 which it held without any operational control, so its destiny was in STX's hands in some ways. In spite of that, it chose to adopt the battle royale approach with STX over a difference of opinion instead of working it out behind the scenes - with their assertion ultimately proven wrong by actual drill data. The rift damaged both parties, but more so to WGO as it had no other real tangible asset so to speak. So I wasn't surprised at the underperformance of the company as the level of general investor discontent was very high to say the least. What I was surprised at was the price levels it dropped to... even with what I thought to be management discount being applied for the Scots.
I will reiterate the statement I made in that post as it is very applicable to STX at the moment - "Anyway, the prevailing investor sentiment for any stock at any given point in time is hardly the most accurate indicator of value"
618
STX Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
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