800m drop was an overreaction in my opinion, but that's how markets go. It goes both ways though, overreacting to good news and bad. But that 800m also includes the increased risk of their other wells. How much less is WE worth because SE 2/3 hit water? In theory nothing because they are separate, but in reality a lot because it makes people question if this company actually knows what they are talking about as much as it seemed 6 months ago. How much selling is TPD holders who are still in front but want to get out now in case there is more bad news? How many are selling out because interest rates have gone up and they need it for their mortgage? There are so many variables that go into a stock price. If you think it's undervalued, buy more. If you think it's overvalued, sell some. No one actually knows the correct price, it's just educated gambling at best.
STX Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
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