I'm looking at a strategy to acquire shares cheaper with put options. I don't know yet though.
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HighPoint Resources Corp (NYSE: HPR)
HighPoint Resources is an independent oil & gas company. In the past three years, the stock has collapsed by 97.9%. But as many meme stock traders have realized in 2021, short squeezes are technical market phenomena and don’t necessarily have anything to do with the company’s underlying business fundamentals or the stock’s long-term outlook.
With a float of just 2.28 million shares and a short percent of float of 31.8%, HighPoint is one of the best short squeeze candidates in the entire energy sector.
DENVER, March 24, 2021 (GLOBE NEWSWIRE) -- HighPoint Resources Corporation (NYSE: HPR) (the "Company" or "HighPoint") at the request of the New York Stock Exchange reports that it is not aware of any material, undisclosed corporate developments to account for the trading activity in HighPoint’s stock on March 24, 2021.
The Company’s planned merger with Bonanza Creek Energy, Inc. (“Bonanza Creek”) remains on track to be consummated pursuant to the previously announced prepackaged plan of reorganization, which implements the merger and restructuring transactions as set forth in the Agreement and Plan of Merger, dated as of November 9, 2020, by and among Bonanza Creek Energy, Inc. (“Bonanza Creek”), HighPoint and Boron Merger Sub, Inc. (the “Merger Agreement”), and the Transaction Support Agreement, dated as of November 9, 2020, by and among HighPoint, HighPoint Operating Corporation, Fifth Pocket Production, LLC, certain consenting holders of HighPoint Operating Corporation’s 7.0% Senior Notes due October 15, 2022 and 8.75% Senior Notes due June 15, 2025, and certain consenting HighPoint stockholders. Based on the number of shares of Bonanza Creek common stock outstanding as of the date of the Merger Agreement, the transaction implies an exchange ratio of 0.114 shares of Bonanza Creek common stock for each share of HighPoint common stock.
3 Short Squeeze Candidates In The Energy Sector (yahoo.com)
Top gainer yesterdayI drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett Kavanaugh
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This is why I set (mentally) sell points and buy points and don't update them daily. I don't understand enough to day trade GME.
I had thought that it was going to drop down to the long range valuation (maybe a bit below initially). But now it is going back up. If it goes above 300 ? I will sell some (I don't currently hold too much because it went over my sell prices earlier (100, 200, and 300)).
JM
(I actually have sold all I intended to between 300-400 and intended to sell the rest (if possible) above 400, but I currently think that pressure might keep it below 400 in reality)Jon Miller-
I AM.CANADIAN
GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.
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