Having peaked at 0.38 stock price landed at 0.34 at the end of trading day. I congratulate those who participated in intraday rally from 0.29 in the morning. It’s an admired 17% or more depending when you started and when your nerves wanted to relax after this wonderful trading today. Oil-oil-oil — we dont care about the speculation — we are here to fight!
Company with barely financials, though they claim to have already invested more than $180mn. WIth sales of less than $8mn last year, company’s market cap suggests respect: $65mn early in the morning ending at $82mn at the end of day. Though one analyst forecasts $44mn of sales in 2008 and $41mn in 2009 — I am quite sceptical at company’s financial strength. I would probably drill down into financials and business perspective of the company sometime later but today’s take-off due to probably all-time high oil was pure speculation. Still my task is finding good companies at understandable value, though speculative money are not less pleasant all the more they were earned with high risk.