there is no conspiracy. The SP had sustained 1.25-160 levels for nearly 2 year in anticipation of 2P or a takeover.
The 2P program has been delayed twice and the results that were due by christmas have been pushed out even further into this year, possibly Christmas again.
In those 20 months, the market has gone through the roof and many suspect it might be time for a more significant breather.
Take a look at the dumping the price of oil got (12% and then another 5% down!)
This stock is being shorted & sold because people are either tired of waiting, worried about the market conditions and/or being prepped for a takeover.
My guess is that it is a combination of the first two.
Highly unlikely that BOW will be taken over without 2P and commercial flows.
Heck, even I got out to wait for a better price. I might miss out but that's life.
BOW Price at posting:
81.5¢ Sentiment: None Disclosure: Not Held
