Since closing at $1.20 on 14 March there have been a total of 13 trading weeks.
Of these PSA has managed to have only 2 positve weeks, 1 unchanged week, and 10 weeks with negative closes.
Of those ten negative weeks, there were 7 weeks in row with lower closes and PSA is currently on a 3 week string of lower closes.
Very poor performance especially conssidering that it included the huge gas find at Main Pass. Even poorer if one looks at the price of HH spot gas over this time period. It was over $6 per mcf every day and had a large number of closes over $7.00 per mcf.
Again IMO the only reasons for the poor share price performance can be laid directly at the feet of the BOD and management of the company.
We have had the "100 share seller", the "three minute seller", and now maybe even the "options exercize seller". All have resulted in the share price being pounded down.
IMO the reason that these actions were able to succeed in knocking the share price down was because of the low opinion of the company in the share market.
Coupled with the Price Lake fiasco which IMO was at the minimum a very good example of lack of corporate communication shows that there needs to great improvement in corprate communication and governance at PSA.
While I am disappointed with the peformance of STU, the management there is clearly much better than PSA at releasing timely information and providing accurate information.
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
