I noticed that this stock was in the news Friday and over the weekend. It had actually reported earnings 0f 60+ cents a share for the first time in seven years. That is the good part. Then there is the Calgary Oilman who has taken a liking to the company and has guaranteed a good part of itsâ€™ debt in the past and apparently is willing to continue that , by way of convertibles, that will increase his hold on the company and dilute yours. The bad part is that it is not patently obvious that the company will make it. Here are the charts.
They stock may be delisted, but then it will still trade OTC, so this is definitely not for widows and orphans. On the other hand the company is profitable again, the top line close to 700mln is up 10% or so year over year and if you look closely at the top chart a break-out could be imagined. Any way this is high tech stuff and when last did you have an opportunity to buy a stock at 33 cents with a P/E of 1/2????
Magellan was Portugese and among other things was credited for finding the Straights of Magellan, a narrow water way through the southern parts of South America.