As Yahoo shows
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I don’t think it is related to dividends or to changes in board members. These are positive signs and the stocks should go up instead of heading down. Also, if this is the case the stocks on Paris exchange should react in the same way. In contrary, the one on Paris Exchange went up during the last few days.
Although, I am not sure what is going on but I guess it is most likely related to “ARBITRAGE”. Arbitrage is caused by the difference in price of the stocks in Paris and NY. As of today, each share at Paris Exchange worth 1.60 Euro which is about $2.00 USD. CGG share price at NY was more than double of the one at PA stock exchange a week ago. Some investors took advantage of this difference in price by buying stocks at PA SE at low price and sale them at NY SE at higher price and this caused drop in price in NY and an increase in share price in PA. Now the stock price in both exchanges are very close. Therefore, I expect a little change by tomorrow morning.
The slide in stock value coincided with the change in the Board of Directors and the two issues of dividends. As this is a strange time to issue dividends, I suppose many stock holders are worried that the new management is just going to squeeze what they can out of the company. Google "Sears" to see an analogy.
On top of that
Volume 570,090 today (so far)
Avg. Vol about 32.000 shares
NY stock exchange so far today: -27%
Market Cap 600.079
Why?
CGG stocks dropped 25% at the end of the day at NY stock exchange. Its Market Cap now is only $828 m. It was 1.2 b last week. Each stock now worth only $2.85.
WHAT IS GOING ON WITH CGG. AT THIS MOMENT THEIR STOCK AT NYSE DROPPED BY 18%.
ACCORDING TO NASDAQ:
CGG ( CGG ) declined Friday, dropping over 8% (Actually 13% by the end of the day) to a session low of $4.00 a share, after the seismic data and imaging company reported a wider-than-expected Q4 net loss and upstaging revenue exceeding Wall analyst projections. Net loss for the three months ended Dec. 31, 2017, was $6.06 per share compared with a $2.71 per share net loss during the year-ago period and missing the Capital IQ consensus expecting a $3.55 per share net loss. Revenue grew to $400.7 million from $328.3 million during the same quarter last year and topping the $348.9 million Street view. Looking ahead, the company is expecting FY18 revenue in a range of 5% either side of $1.5 billion, or about $1.43 billion to $1.58 billion. The lone analyst following CGG is looking for $1.15 billion in FY18 revenue.
NOTE THAT MARKET CAP HAS ALREADY REDUCED TO 900 m from 1.2 b.
Market cap info:
https://www.cgg.com/en/Investors/Shareholder-Information/Share-Price-Details
Capitalization 29,171,490 €
Market cap is simply the current stock price times the total number of shares. It's one indication of what the company is worth. Currently CGG shows a market cap of 761 Million Euros. Current stock price is 1.32 Euros.
It’s between 700-800m.
Market cap is a red cap with " make CGG great again" on it.
Looks like an error, probably related to all the new shares they have issued. Real market cap is around Euro 30 million. Likely to plummet further next week...
WHAT IS MARKET CAP?