• Hello, please take a minute to check out our awesome content, contributed by the wonderful members of our community. We hope you'll add your own thoughts and opinions by making a free account!

Misc Stock Market

I don't think this is good news, I'm getting oil exploration penny stock burn my arse flashbacks with this crashing CPE... do we dump it and cut our losses or hold on?

www.reuters.com

Exclusive: Callon Petroleum taps advisers for debt restructuring - sources

Oil and gas explorer Callon Petroleum Co <CPE.N> has hired advisers to restructure its more than $3 billion in debt after a plunge in energy prices soured its acquisition of a rival, people familiar with the matter said on Wednesday.
www.reuters.com www.reuters.com
 
buckinbronco said:
If they don’t go bankrupt, the returns will be nice. There isn’t any guarantee of bailout money so that makes me a little nervous.
Click to expand...
She’s taking on water captain. Down to almost $9 a share and down 30% on the day. With the volume it has seen the past hour the big boys must have pulled out. Shoulda held out for the better price, oh well lol.
 
Last edited:
metwannabe said:
I don't think this is good news, I'm getting oil exploration penny stock burn my arse flashbacks with this crashing CPE... do we dump it and cut our losses or hold on?

www.reuters.com

Exclusive: Callon Petroleum taps advisers for debt restructuring - sources

Oil and gas explorer Callon Petroleum Co <CPE.N> has hired advisers to restructure its more than $3 billion in debt after a plunge in energy prices soured its acquisition of a rival, people familiar with the matter said on Wednesday.
www.reuters.com www.reuters.com
Click to expand...

I dumped it last week.


Sent from my iPhone using Tapatalk
 
Holding CPE.. Adding later this week. Trump to meet with oil CEO’s on Friday. Throw around “debt restructuring” and stocks tend to get oversold. High risk. High reward. Staying with my gut
 
Should have sold CPE at 0.80 last week and bought back in on the big dip. Hindsight is 20/20 and stuff. Yeah. Same for Fluor. Crushed today. I’m learning some expensive lessons. But I’ll keep improving. I hope
 
buckinbronco said:
She’s taking on water captain. Down to almost $9 a share and down 30% on the day. With the volume it has seen the past hour the big boys must have pulled out. Shoulda held out for the better price, oh well lol.
Click to expand...
I must admit it is kind of tempting to jump into that. But I’d hate to lose money to bankruptcy...

If it were to return to pre-crisis levels, you’re looking at insane profits (500%+), but I don’t know if the industry will completely recover for years, if ever. I also don’t know know the bottom is ($0?!). They’re not going to have any actual cruises for a while...
 
Last edited:
SQQQ performed well for me today. Holding til Friday. Should see it get back towards the 28-30 range as the NASDAQ should continue to tank the rest of the week.
 
superjames1992 said:
I must admit it is kind of tempting to jump into that. But I’d hate to lose money to bankruptcy...

If it were to return to pre-crisis levels, you’re looking at insane profits (500%+), but I don’t know if the industry will completely recover for years, if ever. I also don’t know know the bottom is ($0?!). They’re not going to have any actual cruises for a while...
Click to expand...
Yeah it is one of the riskier positions out there for sure. Hard to imagine Carnival going under, but this is unprecedented times for the industry. I do think people will return to cruising since it is a cheap way to see areas you would not be able to see otherwise. People will forget this mess and go back to cruising for this reason (remember the Concordia and the poop cruise?). The question is can Carnival hang on until they can send the ships back out to sea? I’m betting yes, but I am also not willing to risk a large % of my portfolio either lol. I also cruise from time to time, so the onboard shareholder credit does provide some value to me. This of course won’t mean jack if Carnival folds.
 
CPE smoked. Prob going to zero
 
You must log in or register to reply here.
Back
Top