In my opinion the pps of this stock is currently about one thing and one thing only...a deal. Fundamentals don't matter, hiring a good leader doesn't matter, and what they say on a conference call doesn't matter (unless it includes the words "we made the deal"
. We hyper-analyze the details of who said what on the cc but none of that caused the drop in pps. I'm not saying those things shouldn't matter, or that they won't eventually matter, but they don't right now. With the stock currently susceptible to short manipulation, and growing expectations (at least partially fueled by "predictions" of those claiming to be in the know) that we are close to deal details, any event that could potentially result in a deal announcement, which doesn't, will have a predictable pps outcome. I think the cc was pretty good but Hession could have disclosed that last week he cured cancer; got rid of the designated hitter; and married Duma's daughter...and the pps would still have tanked. We need a deal.
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Agreed CAC - we have always needed the deals signed/announced. That never was going to happen in the CC. That will happen with presser/photos likely from XOM's HQ's or PNG if Gov't approval is prerequisite of XOM's for announcement. Combine apparent elevated deal expectation and the initially mis-understood interpretation that IOC had no LNG ambitions as opposed to what Hession clearly stated that 'IOC would seek non-operating LNG role' with typical post CC sell-off. To blame the CC for a 10% sell-off is off-base and those promoting that claim have not provided any referene to any CC comments to support their case.
Where I disagree with you is I firmly believe that discriminating who said what in the CC is critical in maintaining as accurate snapshot of reality as we can have. There will be events that precede the announcement and maybe we together will see them on our radar. Is this a perfect indicator? No way but it is the best we have and it will help calm the mkt. in the meantime as 'facts are friendly'.
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I don't disagree. It's not what's driving the pps boat right now, but it certainly doesn't hurt.