Thanks for replies.
I'm no pro but have been surprised to learn of traders who recently purchased SPO and sold soon after when stops were hit. I imagine it plays into the hands of shorters. I don't know that SPO would currently be a good choice for anything other than very loose stop loss, if any.
There's very big figures at play here, with residual volatility not fully settled. An excessive (54%) share price drop on the basis of a piece of negative news. Fall in market cap exceeding $1B!
If you believe the price has bottomed (chart looks like it) a buy and hold strategy would be most appropriate imo ignoring the volatility around the bottom of the drop, with a view to significant price recovery in near future as well as a big div. return if still holding in a few months time. For me, the stock could end up a long term keeper given prospect of significant price recovery combined with high div return (based on current price). I like sleeping at night and shun short-term trading myself.
There was comfort also at buying in cheaper than recent prices paid by several SPO Directors. Additionally they have just appointed a new highly seasoned director who sounds like a perfect fit for the present situation. So the management team would not just be turning up for their salaries but have skin in the game and be presently highly motivated to pull the company up by its bootstraps which is often the determining ingredient. Just like the TV shampoo add, my hopeful outlook for SPO is....."it won't happen overnight, but it will happen"
SPO Price at posting:
$1.02 Sentiment: Buy Disclosure: Held
