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Petrovista - something bizarre and amazingSo this is a lesson in why you never sell shells. Petrovista was a disastrous Brazilian play. Management finally (after many years of failure) managed to sell their small assets for about 0.065 a share. That was my estimate for the payout net of small transaction costs. Instead, the management team which was a sham, ate a ton of the cash and only paid out something like 0.045 a share. I had averaged down a ton but still had a loss. The remaining company was a shell with some tax loss write off listed as PTV.H on the joke exchange. Very recently, someone has been bidding big for the company. I put my shares out at 0.065 Friday (and wish I'd left them at 0.09) and someone ate them. There is a 700k share bid at 0.08. I could have made more but my loss has turned into a profit so I will not complain. I do wonder what on earth is going on. It's probably someone who can use the South American tax losses to their benefit. Hence my earlier question. If I had seen the market earlier today, I'd have upped my ask! Wiggling |
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Msg # | Subject | Author | Recs | Date Posted |
57377 | Re: Petrovista - something bizarre and amazing | carswell | 1 | 11/20/2017 11:31:37 AM |