If you wanted to own 9 million shares of Argex it would cost you close to 8.2 million given their close today.
Yet, sink that 8.2 million shares in FNC at today's close and you would own roughly 30 million shares and have your 9 million shares of Argex. How fricking ludicrous is that!
You bet were a sitting duck. Personally, I believe Peter Smith = blacklisted.
That's all that makes sense to me from this historical poor performance of valuation and lack of respect given to FNC and its excellent holdings. Did he burn bridges by not financing when ROF was first discovered? Who know's...but that's all that makes sense to me.
Hope the tide changes. Will Magpie and Oil Can FINALLY prove to be the catalysts?? There have been many catalysts come and go...with no real traction gained.
Good Luck,
Eudai