I know, share price means nothing.
9 replies (most recent on top)
@a2 these numbers are shocking. How does the board sit idly by? What happened to the directors that Elliott got onto the board?! Why do they remain silent?
@e1 could not agree more. They knew the company was at risk prior to Elliott and ignored the signs and warnings. Rather than act the adult, the Board and GoGo decided to go to war to save themselves—at the expense of shareholders and employees.
@b0, they would be losing patience because even though they have a good profit locked in, there would be even more profit in their investment if P66 were managed properly.
Even if P66 stock didn't get all the way up to VLO and MPC prices it could reasonably be expected to be within $30-$40 dollars of them.
All Go-Go had to do was follow the road map that Elliott laid out for him, but he had to do things his own way.
@ay why would Elliott be losing patience? It may not be from anything p66 has done, but they're up a huge amount on their investment. They could cash out right now and look like geniuses.
Elliott and the big new investor from the Phillippines have got to be losing patience with Go-Go, Saucy, Beauty Queen, Tractor Man and other members of the ELT by now.
You mean all these layoffs, restructure, performance system overhaul, promotion ki-ling, business transformation and midstream integration didn’t fix it???
Wake up PSX board. Your management team is not competing. It is lagging. And you are responsible. Time to break this sleepy company up and let the markets decide how much the parts are worth. Show us the commercial earnings split out from Refining and M&S. How much value is being created?
Above was YTD. Here is one year:
PSX +49%
MPC +65%
VLO +92%
It means nothing:
PSX +58%
MPC +82%
VLO +80%