So I find this intriguing. Short interest is now close to 12% which is 90m shares or 10+ days of volume. We then have a buyback that is buying 3% of the co… and I guess we can expect management to do another 25m usd buyback if share price is this low.
We then have Bauna back online and an incremental exploration well due in 50 days. Average analyst share price is close to 2.30..
I just don’t know what’s going on here apart from overall systematic shorting of all energy stocks due to trump coming in (drill baby drill). But they have got it wrong with karoon as I just don’t see how this goes down much more without a big decline in oil prices.
I think this is not a GameStop (50%+ of market cap shorted ) but it definitely creates risk to upside.
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