Serious question from a shareholder with 5000 shares, how much longer can NOV last without an injection of cash ? How much cash has NOV got left or how much more credit does it have ?
13 replies (most recent on top)
As shareholders you should be asking yourselves "why are you all wasting your money"?
The panic must be starting to set in at the top as business units in more than one segment are being instructed to add a lot more revenue to their 2022 plan. 20% more than had been originally planned is being added in some cases.
This year they made peoples chances of full ICP nigh on impossible and for next year, everyone is beaten before they start and even if they make the 25-30% increase in plan, staff will receive less bonus thanks to the generous reduction in ICP % for most staff who get ICP.
In addition, a lot of middle management who previously got share options have had these removed.
No doubt the C level folks and their direct reports will be immune from all this though as it is ok to take away income from the workforce all the time and continue to reward “leadership” for running the company at a loss for years and years continually.
All those saying cash reserves are ok and healthy wake up please, NO company can live of its cash reserve indefinitely, point here is simple enough any business not making a profit for years on end and drawing on its cash reserve to survive is heading one way only it’s not sustainable, make a profit or its game over in the long haul
As a shareholder you should be concerned that this management team and c-suite are incapable of turning a profit. At some point, there will not be shares to sell off to help bolster a flawed business model and even worse leadership which has led to a massive evacuation of talent and knowledge. Anyone who wanted to do right and make good decisions were painted with the Scarlet Letter "T" (troublemaker). That talent is now at SLB, Drilling Contractors or outside of O&G altogether.
The cash, losses and streak of of both are astonishing but not near as much that you and other shareholders continue to prop up and support this inept c-suite.
5000 shares could buy you lots and lots of pies.
As a shareholder you can lobby no confidence of the board. I’m s your right
I am a employee who has been given almost 5000 shares over the last 20 years and never traded them, Ian no troll just asking for honest advice. You are quite sad to be so suspicious
😈 move on troll. Like we actually believe a shareholder would post that question on a layoff site 🤔 and could realistically expect an accurate, factual answer…🤣😂🤡
Sell sell sell
When someone buys 5000 shares of stock, NOV has a positive cash flow.
All NOV needs is people buying stock.
Its a ponzi scheme.
You need to be very concerned with the NOV management not worth investing in.
But this is exactly what I am confused about how can NOV be cash flow positive but apparently not making a profit for several years ? I am totally confused and by no means a stock market expert on semantics. Please clarify cash flow positive
May I suggest reading the earnings report? NOV is consistently cash flow positive. There is little concern about the company running out of cash or needing a cash infusion to support operations.