PSN, Poseidon Concepts update,

PSN 2 Analysts - The Globe and Mail

Just a day later the 7 strong buy analysts have all but one disappeared into thin air. 3 remain quasi positive (hold means sell in this business) and 4 remerge as (strong?) sellers. In the mean time you have just lost 69% of your money. Today’s low on the stock was $4.49, at that level it probable is a buy, not a sell so the analysts could well be wrong again. There is a huge gap from about $13 to $6.50, chances are that the stock might want to trade back into that gap. Time will tell.

Just in case you think these analysts are just newcomers from tiny dealers, here is a list provided by the company itself, it has 11 analysts so two must have been awol at the time of the surveys.

Analyst Coverage - Poseidon Concepts

and the company’s Nov 14 statement to investors;

“Rolling out three major new products and services demonstrates that Poseidon is focused on leading the evolution of fluid handling across North America, and emphasizes our commitment to expanding the Company’s footprint in the fluid management space,” said Lyle Michaluk, Poseidon’s Chief Executive Officer. “While we are disappointed in the third quarter’s weaker financial results, this was a transformational quarter for our business. We remain optimistic both about our core tank rental business and the ability of the new products and services to attract new customers and generate incremental revenues. We are already experiencing strong customer enthusiasm in response to the new offerings.”

Poseidon - Wikipedia

Just horsing around, I guess.