"OGX shareholders should be used to violent swings in the market by now. Shares in Eike Batista’s oil company are down more than 90 per cent this year. However, even by OGX standards, the last few days have been a rollercoaster for investors.
The stock gained as much as 49 per cent on Friday after OGX exercised a put option under which Batista would begin to pump as much as $1bn into the company via the purchase of new shares. On Monday shares fell over 17 per cent after Batista contested the decision to exercise the put.
So what on earth is going on?
'via Blog this'
No comments:
Post a Comment