Posted By RichC on January 22, 2014
Although I’m pretty conservative when it comes to investing and stocks, I do pay attention to the occasion stock tip when it comes from business people I respect. One fellow I know who attends shareholder meetings and get to know the interworking of companies has taken a substantial position in Hyperdynamics Corporation. I’ve added a few shares, but watched the stock go south as company struggled to get their business, personnel and financials back in order (perhaps growing pains of a small company?). The questionable deal regarding the Guinea Project and DOJ probe last year made holding onto the stock difficult for most, but since my position was already money budgeted for a “long shot,” I ignored the news and excepted it as lost money. It is a high risk/high reward stock like this that I’m learning to take a position with options rather than hold the stock.
Recently though, a few more buyers have picked up shares of $HDY and no matter where I’ve looked for news, it has been scarce. Obviously something has generated interest as volume jumped 5-fold on Tuesday and continued into today. Any rumors or news from those listening? DOJ probe better than expected? News from Tullow or West Africa?