Sunday, July 31, 2016
Major holder of Cub Energy shares is dumping position; gives another bite at the apple for those with cash
Harrington Global which owned around 20% of the company has decided to exit its position. As you can see the volume was huge and they seemed to want to get out of the position regardless of price. I sent an email to the CFO of Cub Energy asking about this and was told that the Cub was aware of Harrington exiting its position but did not have a comment as to why.
I do no think this is too big of a deal for long term holders of Cub Energy. In fact this is a great example of why one should keep some dry powder. A forced seller driving the price down allows us to pick up shares on the cheap.
I was able to basically double my position at $.025. This is a highly speculative play but I think the worst is past and the recent news from the company gives me a view that things are bottoming and will be on the upswing.