It is extremely rare for companies to resort to death spiral financing without serious damage to their share price (Gulf Keystone pulled it off a few years ago, but it really doesn’t happen often). Mongolian oil explorer Petro Matad (MATD) is unlikely to be an exception to this rule.
There are times when a share continues to defy gravity for far longer than most people would expect, and that certainly looks to be the case with Mongolian oil explorer Petro Matad (MATD).
Petro Matad (MATD) has been one of the worst performing AIM oil companies in recent years, taking into account both its operations and share price.
On the face of it we are looking at a rather strange but straightforward trading range on the daily chart of Petro Matad (MATD) since the start of last year.
Petro Matad (MATD) was well known for issuing some of the most complicated news releases of any oil share that I’ve seen. After a 97% drop in its share price over the last 3 years, perhaps the company has learned its lesson. What we do know about this stock though is that it can move sharply and suddenly.
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