Hang on for a bumpy ride.
12 replies (most recent on top)
Smart Money -svy
Well stated - history will show which is which.
Maybe the dumb money gets lucky if the oilfield is truly hit bottom. Oftentimes, the shakiest stocks show the biggest initial gains on the upswing when they are 'saved' from financial armageddon. Those are just the lucky trades.
WFT = Dodo.
Yes extinct pretty soon.
Well said Captain Pugwash, true and precise.
We were belly up months ago, just waiting for the final management gurgle and then we can sink without trace or love. No regrets, it was a poor company and poorly run from top to bottom.
Anybody with money invested in WFT is not very smart.
Price increases at the field level. Anything for cash flow. Daily calls from past due vendors. Scraping of perfectly good equipment. WHAT DOES THIS TELL YA??????
Yep, WFT is definitely, 100%, dead in the murky water.
Bring on the asset strippers and bury this sorry fraud riddled company lock, stock and management.
Read the balance sheet and see the predicament that WFT is in, high debt with cash flow problems. It either needs a sustained uptick in activity or another cash infusion. OPEC has pushed oil prices up, spurring US activity but is this sustainable with weakening demand in China. Will OPEC continue to play ball as US activity ramps up... and after the election is over.
Note the legal problems: FCPA violations, tax accounting problems (fraud) at the higher levels of the company. Are these one off occurrences or is there a systemic problem.
Look at the stock price hovering at a 10 year low, company bond prices trading below face value rated B2/BB- (highly speculative)
Listen to the Q3 conference call this week: does leadership has a clear vision of how to get back on track, are the numbers in line with expectations (SLB, HAL have set the mark), are there any surprise one off costs. Is the tone irrationally upbeat?
In a free market there is just as much smart money as there is dumb money, history defines which is which. Smart people will steer clear
WFT is already a dead man walking, everybody knows.
Who is the 'smart money'? Exactly what makes you think they are betting the company goes belly up? Is there some market signal that clearly shows WFT is going belly up?
WFT is slowly slowly bleeding to death. Painful watching.
Not good.