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.

Gulf Keystone Morons: what was that you were saying about institutional backing - M&G dumps its shares

By Tom Winnifrith

13 April 2016 00:59

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The Morons who have ignored my advice to sell Gulf Keystone (GKP) all the way down from 180p to 6.6p today have occassionally argued that I cannot be right because fund managers are long and strong and they know more than a pizza delivery boy/alcoholic etc etc etc. Today M&G has sold its 5% stake and now owns no shares at all.

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Comments

Steve Sutton

13 April 2016, 02:30

Biggest buy signal ever, the morons that run these Funds should be strung up with piano wire! Buy high as possible and sell out as low as possible!

You have missed a trick, with 30,000 retail investors holding GKP shares, who better to get at the UK Investor Show than Jon Ferrier GKP CEO who was looking for a suitable platform to discuss the company.

Whilst the show is well subscribed the numbers would have swelled significantly had he been promoted as a guest speaker. In fact you could have had the main stage full to capacity for many an hour just GKP related.

I stand by my conviction that GKP will survive, the KRG are supporting the company with funding to get them through. GKP are not in default and will easily meet the next bond coupon.

With oil recovering GKP revenues will strengthen and more options will become available to the company to restructure the balance sheet.

Perhaps it is time for certain entities to close their short positions!!