Petrofac Share Discussion Threads

[noramping] 04/6/2024 16:19

Why would shorts need to close? by 14th June more news due

[tahmina1] 04/6/2024 15:56

sold some at 16.2 and some stopped out at 15

If shorts close, this could rally, need to see if any reduction in shorts

[fanny smacker] 04/6/2024 14:50

Here comes the short squeeze to 25p close, possible scenario then open up 30p tomorrow and spike to 45p.

[fanny smacker] 04/6/2024 14:16

Maybe 18p will be tested before close.

That short charges could amount to a lot of money, if they are shorting the shares from a lower range.

[action] 04/6/2024 14:13

I do not see any future for shareholders. Waiting for a bounce to cut my losses.

[action] 04/6/2024 14:12

Get out and book your profit.

[citys2874] 04/6/2024 13:52

great day today for PFC this morning and PCIP news just out both should rally this afternoon

[no pah king] 04/6/2024 13:38

JakNife

For the thousand of short kills you presumably had, how come you ain't a billionaire?

Regards,
No Pah King

[760il] 04/6/2024 13:15

Where did you get the fee for short costs ?

[the codger] 04/6/2024 13:05

393 million dollar loss?
Erm,shareholders will be wiped out unfortunately.

[farrugia] 04/6/2024 12:32

the fee to hold a petrofac short is currently 379% per year of holding!

I hold the $200k bonds bought for 27c so I'm exposed to a total loss of USD55,000. Would it make sense to open a short on the shares for a hedge on my bonds? Probably not?

[action] 04/6/2024 12:22

This may go to 1p

[halfpenny] 04/6/2024 11:41

Nice gains today now bowing out.

Too Risky to stay...

See you soon...enjoy

[papillon] 04/6/2024 11:34

I believe JakNife's analysis is correct, seagreen. My long term PFC chart is Strongly Bearish. You might be correct and the Gap down might be closed in the short term, but Gaps down are not always closed, especially when the share could be going towards zero.
I wish you luck, but as you know I don't gamble on shares and I'm definitely not a trader. I've never shorted a share in my life and wouldn't know how to.

PS I also believe JakNife's analysis of the situation at HARL is also correct.

Edit: of course if the facts change at both PFC & HARL I'll change my opinion. I'm a great believer in J. M. Keynes famous comment.

[seagreen] 04/6/2024 11:28

Gret share

[glavey] 04/6/2024 11:21

I like this share. All you need to do is bee stewped and you can make a prophet.

[seagreen] 04/6/2024 11:11

Many appologies.

[no pah king] 04/6/2024 11:11

I took some profit. I came late, sub 13p, and took off above 17p.

Shame I did not see the rns.

Regards,
No Pah King

[jaknife] 04/6/2024 11:06

seagreen

"Edit Arogant crook..."

Feel free to edit again if you want to get the spelling correct!

JakNife

[shinnas] 04/6/2024 10:55

Sold my last 200K, and the so confident doomsters that were so sure of zero are very quiet

[seagreen] 04/6/2024 10:37

Edit Arogant crook...

They are buying the dips in size

[jaknife] 04/6/2024 10:25

seagreen,

I'm not sure what you think I've written that deserves the use of the word "crook"?

I don't claim to be able to predict short-term price movements. All that I've done is predict a debt for equity swap at 4p a share. The company has finally admitted that it needs a debt for equity swap and has also admitted:

* It's in default and, if 25% of the bondholders decide to get together, then they could call default on 14th June

* One of its key clients has threatened to terminate a key contract if the banks don't provide a performance guarantee by 16th June

* PFC are working on a debt for equity swap but they're also working on a Restructuring Plan, the latter would permit them to zero shareholders

If some punters want to gamble on short-term volatility then who am I to spoil their fun?

But that won't change the ultimate share price target - 4p at best with a significant risk that it could be zero!

I wish you the best of luck with your £200 gamble but, as always, it is better to rely on skill than luck!

JakNife