$3.01
0.00 (0%)
Boots & Coots Intl. Well, Inc. (AMEX:WEL.DL)
CAPS Rating:
The Company provides a suite of integrated pressure control and related services to onshore and offshore oil and gas exploration and development companies, in North America, South America, North Africa, West Africa and the Middle East.
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Forgtet the industry this thing is associated with. Forget the P/E. Forget everything about WEL except the technical factors. Historically this outfit has been unable to earn any real money on a continuing basis. They are usually plus or minus a dime. If they start to make a little money, the stock seems to expand to dilute it. For years WEL has cycled from .50-.60 low to about $1.50 high. . .and it does it pretty much in a straight line. The line has been down for several months and I'm willing to bet that it will continue down until it reaches that .50-.60 level. Then, after a little rest, off she goes , back to $1.50; and it matters not whether they earn a dime or lose a dime,. Somebody's financial toy. It will be my toy at .50 - .60.
Wish I had read your post before I bought shares. The more I follow the stock, the more I believe your assessment is correct. I believe it is an ATM for Simmons.
They just dumped another load the last two weeks. It would probably run to $2.50 if they would leave it alone.