Hi RFE followers, long time reader, though rarely post, have generally enjoyed the commentary over the last few years. Was lucky enough to get on board in late 2009 before the SP spike to $1.50, like most aside from those short, was sad to see us get back to sub .40c
On a side note, I appreciate that there has been some strong activity surrounding the SP of late, spurred by announcements of increased tenement sizes/acreage, GIP and potential for reserve growth, or potential farm out partnerships.
I was discussing the recent SP with my brother last night who got me thinking after he dismissed the company's recent SP rise as "greenshooting" - being a common exercise whereby broking houses that underwrite a recent SPP and are paid a fee by the company to do so, go about the process of recommending that stock to retail clients to allow more "sophisticated" investors to gradually offload the stock to less informed retail clients at a premium to their original investment.
My brother has worked for a very well known investment bank for some time, so I always take note of his opinions on such issues.
Any thoughts on whether the aforementioned scenario could be a true explanation for the current SP rise of RFE?
RFE Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
