Engaged in exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast region.
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How in HELL can an O&G continually lose money in this commodties market? I'm in the industry, and MMR is known as one of the poorest explorers of any of the independents. Looks like their only hope is the proposed LNG hub - and that's a mighty slim safety line.
I so wish that I had never bought any of this stock. I compares to my stupidity when I bought JSDA (Jones Soda @ 20)!
I've pondered this very issue since I initially bought the stock. I've had a lot of time to regret it.
I can understand the previous post frustration but I disagree strongly. I've made a very nice profit on MMR over the last few years but you have to know when to buy. This stock always goes up and down as most do so catch it low, sell it high. Don't buy unless it's at least under 15...preferably 14 or less and don't worry when it spikes down below that as it always comes up. Have patience...I'm a rookie at this so I don't know if making $10-15k a year is decent or not but I only trade on this stock.
I bought JSDA at $6.25 and sold it $31. JSDA was all cramer hype. Some stocks you can buy and let run. Others trade in a tight channel, gotta look at the Moving Avgs. It takes practice.