Sep. 10 at 3:05 PM
$PROP Listening to a bit of the last earnings call, management goes on about asset sales, partial refinancing, restructuring... all this elaborate talk. It's like a quack doctor who doesn't know how to operate telling you to just sleep better, get some massages, manage your stress, and eat warm food. This industry actually has a senior veteran who loves prescribing exactly that kind of treatment: Kosmos Energy.
Look at this stock's chart and it looks like a heroic tale of overcoming hardship — but every time it touches
$0.50, it mechanically snaps back up to
$2 within about six months. I honestly couldn't be bothered to count how many reverse splits it's been through, but I'd bet good money that 90% of common shareholders over the past 5 years have taken serious losses.
For anyone planning to hold PROP forever on the theory that "if they just keep pumping oil through the cycle, my shares will come back too" — I'd especially recommend you go take a look at this one first. :)
