I'm sure everyone who owns BQI heard the news yesterday. I never sell when a stock takes a hit like this since it's mostly due to short term reactions. But what does this move mean for the future of the company? What is the gain/loss to Oilsands Quest? Part of me wants to get more while the price is so low, but I must admit I'm a bit worried.
I'm not seeing any responses from my fellow Fools. I'm surely not the only one holding BQI in my portfolio. Am I the only one concerned? This is one of my long term holdings...do we see this as a stable company even with the recent, sudden changes in the Management? I would feel much better if someone who is also holding this in their portfolio would jump in with some thoughts.
I have no idea what it means either. Obviously the folks that own it dumped it on the news. I dumped it at .92 but bought back in when it hit .72. Seems to be stable around there. Long term I think Oil needs to go up for this to increase. Its purely speculative. No profits, simply investing in the hopes that they are able to get the oil out in a profitable manner some day. If they dont, its a bust.
I've read that Hopkins (leaving the company) is focused on "starting up" companies vs. running them for the long term. He often develops a business and hands it to a leadership team that can grow the company regarding it's intended business...in this case to start pumping oil and gas vs. just buying the property. I'm hoping this is another step towards the maturity of BQI and he's allowing a team that has come from successful companies in producing the product and driving profits.Only time will tell. I'm staying in the trusty 'ol dollar cost averaging...so buying more while it's low but holding the $1.25 shares too.
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