I have to tell you, this stock has my adrenaline pumping. Watching it tank like this is really not fun, but exciting.
Either this is going to be one of my better picks ever, or a "lesson-learned" for all time.
Bought half at $19, other half at 14 7/8.
I bought it because I think the company showed great growth in a weak market, and handled a bad market effectively. Also, I have no doubt that oil prices will rise within the next year, etc.
So, either this is going to teach me a big lesson, or it's going to rock. I have a hard time believing the fair value for this company is not at least $20 a share, even in the current market for oil, etc. If the oil services industry rebounds, I see no reason this company can't earn $1.50 - $2 a share.
Last time I had this much fun was buying GNT at 30. Seemed like a great deal until it dropped to 19 a month later (Dec 1997).
Sold it 2 months ago at 40. They got bought out by CNC.
I actually would think that if this weak market continues, there would be consolidation, and someone would buy MAVK for earnings accretion. (Similar to GNT). |
