[ad_1]
It seems is a very dark trading day for Petroleum Geo-Services (PGS) when Oslo Børs started trading on Thursday morning. After publishing the second quarter accounts, the stock fell sharply from beginning to end and declined by 9.3%. From that time, the price was 0.92%
True, the quarterly profits were lower than expected, but the gap was far from such a price that would trigger such a decline prices. And finally, the analysts concluded that the signals of development in the future were positive
Thus, the initial case seems to be related to the fact that some investors had hoped too much what the accounts would bring and discarded the cards without much
PGS Surprises: Second Quarter Earnings
This is a factor that could have contributed to a sudden and powerful recovery in the bottom of the stock that fell right after the start. market opening. It may be that the shortsellers have found that the fall in prices was a golden opportunity to redeem their short positions by buying back the shares they had sold
. PGS slightly increased its short positions Wednesday already – before the presentation of the results. However, the increase was not greater than the total short position which went from 9.06% to 9.1%
The increase in short positions s is produced Wednesday at prices between 38,84 NOK and 40,07 NOK. Indeed, it seems very likely that it was tempting for these investors to buy back shares as the stock price fell to 35.6 kroners on Thursday morning
Investors who had significant short positions in PGS have so far this year lost a lot of money on the strong stock market for seismic society. We can therefore assume that the initial fall in prices has been a tempting opportunity for investors in the short term to make a rare but perhaps welcome gain. However, it is impossible to advance the schemes of action of these investors. It is not intended for anything to know what basically motivates their short positions. However, the behavior of the sharers can have a significant impact on the stock of GSP because the GSP is the shortest stock of the Oslo Stock Exchange.
The response to a tiny crumbling may have contributed to the strong replenishment of the GSP stock. At the beginning of the day, Thursday is scheduled for Friday afternoon
READ MORE BOOK REVIEWS:
Can XXL take an inverted GSP on Friday
Does PGS manage to get rid of its competitors? 19659013] Do you think grain stocks should be filled, should you buy Yara
Do Ruzicka dig deeper into your pocket to successfully lift the Orkla stock?
When expectations come up, there is a danger of iron
Source link
