Any one have any thoughts about repercussions of declining stock price? Is there some price that might warrant a takeover? Is CGG likely to get money for refinancing with declining stock price?
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French documents:
http://www.regroupementpplocal.com/
Is there a reason for the sudden stop of CGG stocks trading at NY stock exchange?
The stock is now $3.26, down 48 cents, or 12.74%.
Wow. Looks like investors (gamblers?) are finally realizing that they will own almost nothing if the proposed debt restructuring goes through: CGG shares at an all time low close of 3.03 euros, down almost 6.5% today...
CGG's shares beat market expectation by diving toward $2.19 much faster than expected.
I'm thinking of putting in a takeover bid for CGG myself.... $25 and two cups of gobstoppers.
According to 'Stockinvest.US'
CGG Stocks Trend:
CGG lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -31.57% during the next 3 months and, with 90% probability hold a price between $2.19 and $3.50 at the end of this period.
De-list this useless company.
CGG is on debt restructure life support right now. It is probably more likely that this company will go private before another company would want to buy it. What are the assets in an under performing seismic industry with too many competing companies? Other than the seismic library, there are no valuable assets. Even seismic data has a shelf life and new, redundant data has to be acquired at great cost. No happy ending for CGG. Sad.