Our favorite stock MVW has fallen back to $0.36 (below where it started... so unfortunately the Downside that I presented in my May 13th post came true)... Does this present new opportunity?
I presented this stock at $0.55 and we saw it go to $2.64 shortly after. I also saw a pull back coming since the company hadn't put out any news about developing their 2011/2012 game-plan + the shares from the financing they did in February (@ $0.22) came free in June.
In my opinion this is now VERY UNDERVALUED. (once again)
The light volume we saw in the market today tells me that the selling may be over with.
The fundamentals of this company are still VERY STRONG, and even without their 2011/2012 game-plan, their current holdings + production alone could substantiate a higher price than what we're seeing now.. The Bakken & Williston basin plays are getting a lot attention, but I think it's only just beginning..
As I've said from the beginning, MVW shows great LONG TERM indicators, but also presents great trading opportunities.
Please do your own research and decide for yourself! I'm simply making sure you're all aware of what's going on. As always, please email me or connect with me on Facebook or Twitter if you have any questions!
ps. please also refer to my disclaimer at the bottom of the page!