By Ben Turney | Friday 9 May 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The near doubling in value of Wessex Exploration’s (WSX) stock, over the last twenty four hours, is worth a closer look. Wessex’s board claims the reason for this is because of the “advanced negotiations regarding a potential acquisition”. The alternative explanation is a tad more unpalatable for the directors. As I suggested here two weeks ago, it is entirely possible that speculators are positioning themselves in anticipation that next week’s boardroom coup is going to be successful!!!
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