Any thoughts on how long Goldentree will be selling shares? They are the major shareholder having gotten their shares through the conversion of senior debts into common stock (other junior debts got warrants) . They have been steady sellers into the market. I would guess that they are bond investors and as such would either have no real interest in being common shareholders or are even restricted from being common shareholders for very long. Or maybe they just need to get their holdings down to a more moderate level?
I think their selling has been holding back the share price during a period where most oil company shares are surging. Will they also surge once Goldentree is done?
Any thoughts are welcome.