Not to worry, am a true believer that the market is a voting machine in the short term and a weighing machine in the long term. Will never forget missing the Hardman spike from 30-odd cents to $1 in 2001 IIRC (after they made the Chinguetti discovery), only to watch it fall all the way back to the pre-announcement level again not long after. It was a few years after that it started to move past $1 and beyond $2 as they approached prod startup at Chinguetti. In STX's case, they don't have the long lead-time of bringing an offshore field online. So with capex relatively low and return margin high, they should have been rerated by now. Of course, the market is a funny thing - especially when you have a few around the chat rooms calling doom and gloom, and the panic spreads.
Like I said a few months back to a knocker, let's talk about share price in 12 months time. If it is still around mid-20s, I will more than happy to eat my words :o)
618
STX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)