Decided to reread this thread just because. Looks like the OP's $34k investment is worth about $5k right now.
ORIG...a nice, risky oil play
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Last: 5 yr ago by The Wonderer
Followed this thread for a while, primarily for the humor...and anticipation to see how low this stock would drop. I watched the stock closely as a result of this thread specifically. I ended up buying a nice chunk at .74cents about a month and a half ago. Here we are trading at ~$1.18 this morning. Time to cash out? or hold on? (i'm thinking take the win and bail).
Advice welcome from anyone except OP!
Advice welcome from anyone except OP!
Take your money and run. Dump it.
http://reviewfortune.com/2016/10/25/latest-ocean-rig-udw-llc-nasdaqorig-target-price-suggests-stock-is-worth-0-78share/
http://reviewfortune.com/2016/10/25/latest-ocean-rig-udw-llc-nasdaqorig-target-price-suggests-stock-is-worth-0-78share/
ORIG up 20% today.
RIP.......just filed BK
Execs all saved themselves, shareholders will get nothingaggiehunter3 said:
RIP.......just filed BK
#coiled_spring
Anyone stick with ORIG?
Damn... Brisket took it dry if he held until the end!
https://seekingalpha.com/article/4108502-ocean-rig-moves-effectively-wipe-current-equityholders-get
https://seekingalpha.com/article/4108502-ocean-rig-moves-effectively-wipe-current-equityholders-get
Quote:
Summary
Company is preparing to emerge from bankruptcy after receiving court confirmations.
Existing shareholders will be diluted by 99.98% with their participation in the calculated new equity value of $1.83 billion being a measly $300,000.
1:9,200 reverse split to be executed after the close of trading on September 21, reducing outstanding shares to just 8,976.
Shareholders owning less than 9,200 shares will be wiped out in exchange for a few cents in total cash consideration.
Even at current share prices, equityholders are still going to suffer outsized losses on a percentage basis.
IrishTxAggie said:
Damn... Brisket took it dry if he held until the end!
https://seekingalpha.com/article/4108502-ocean-rig-moves-effectively-wipe-current-equityholders-getQuote:
Summary
Company is preparing to emerge from bankruptcy after receiving court confirmations.
Existing shareholders will be diluted by 99.98% with their participation in the calculated new equity value of $1.83 billion being a measly $300,000.
1:9,200 reverse split to be executed after the close of trading on September 21, reducing outstanding shares to just 8,976.
Shareholders owning less than 9,200 shares will be wiped out in exchange for a few cents in total cash consideration.
Even at current share prices, equityholders are still going to suffer outsized losses on a percentage basis.
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ATM9000 said:
And I'm not Monday morning qb-ing you. Monday morning qb-ing would be me bringing this up 2 years from now and saying you suck... You are 20% in on your play and I'm suggesting you think a bit more critically about your set up if your play is really a run up on oil is all. questioning strategy early on in a play is critical thinking not hindsight taunting.
Lol... entertaining re-read.
If OP is still around and posting under a different name or something: the TTT on this thread... that's your Monday morning qb-ing
What a silly play this was... 'I want exposure to an oil run up so I'm going to pick a stock with a bunch of trash going on with it that isn't very correlated with oil and just go balls in with it.'
ORIG acquired by RIG (Transocean) yesterday.
Timing is everything.
Timing is everything.
Guess someone cooked their brisket about three years early.TxAg20 said:
ORIG acquired by RIG (Transocean) yesterday.
Timing is everything.
Where's your crystal ball?IrishTxAggie said:
You're playing with fire on this one IMO... I wouldn't touch a Greek company with a 10ft pole. Personally, I'd be surprised if we see $100/bbl oil before 2018. Most signs point to it has 'rebounded' and $58-$65 seems to be a sweet spot and still profitable number for the big boys.