Thread regarding CGG Veritas layoffs

Any idea why CGG's market cap peaked 1.2 billion

As Yahoo shows

by | Post ID: @RXPG2OO
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I don’t think it is related to dividends or to changes in board members. These are positive signs and the stocks should go up instead of heading down. Also, if this is the case the stocks on Paris exchange should react in the same way. In contrary, the one on Paris Exchange went up during the last few days.

Although, I am not sure what is going on but I guess it is most likely related to “ARBITRAGE”. Arbitrage is caused by the difference in price of the stocks in Paris and NY. As of today, each share at Paris Exchange worth 1.60 Euro which is about $2.00 USD. CGG share price at NY was more than double of the one at PA stock exchange a week ago. Some investors took advantage of this difference in price by buying stocks at PA SE at low price and sale them at NY SE at higher price and this caused drop in price in NY and an increase in share price in PA. Now the stock price in both exchanges are very close. Therefore, I expect a little change by tomorrow morning.

by | Post ID: @RXPG2OO-emta

The slide in stock value coincided with the change in the Board of Directors and the two issues of dividends. As this is a strange time to issue dividends, I suppose many stock holders are worried that the new management is just going to squeeze what they can out of the company. Google "Sears" to see an analogy.

by | Post ID: @RXPG2OO-dlqh

On top of that

Volume 570,090 today (so far)

Avg. Vol about 32.000 shares

by | Post ID: @RXPG2OO-dpuj

NY stock exchange so far today: -27%

Market Cap 600.079

Why?

by | Post ID: @RXPG2OO-djej

CGG stocks dropped 25% at the end of the day at NY stock exchange. Its Market Cap now is only $828 m. It was 1.2 b last week. Each stock now worth only $2.85.

by | Post ID: @RXPG2OO-cmps

WHAT IS GOING ON WITH CGG. AT THIS MOMENT THEIR STOCK AT NYSE DROPPED BY 18%.

by | Post ID: @RXPG2OO-cnqt

ACCORDING TO NASDAQ:

CGG ( CGG ) declined Friday, dropping over 8% (Actually 13% by the end of the day) to a session low of $4.00 a share, after the seismic data and imaging company reported a wider-than-expected Q4 net loss and upstaging revenue exceeding Wall analyst projections. Net loss for the three months ended Dec. 31, 2017, was $6.06 per share compared with a $2.71 per share net loss during the year-ago period and missing the Capital IQ consensus expecting a $3.55 per share net loss. Revenue grew to $400.7 million from $328.3 million during the same quarter last year and topping the $348.9 million Street view. Looking ahead, the company is expecting FY18 revenue in a range of 5% either side of $1.5 billion, or about $1.43 billion to $1.58 billion. The lone analyst following CGG is looking for $1.15 billion in FY18 revenue.

NOTE THAT MARKET CAP HAS ALREADY REDUCED TO 900 m from 1.2 b.

by | Post ID: @RXPG2OO-bcsa

This is from CGG's website....

https://www.cgg.com/en/Investors/Shareholder-Information/Voting-Rights-Shares

Outstanding shares :

July 20,2016 22,133,149

...

Jan 31,2018 22,133,149

Feb 21, 2018 578,575,002

So any webpage that reports Markey Cap would simply multiply the number of shares by the current stock price of 1.31 Euros.

CGG itself must be using the 22,133,149 number as it is reporting Market Cap of 29m Euros.

Financial Time is reporting a Market cap of 126M Euors based on 94m outstanding shares.

Market Watch is reporting a Market Cap of 783m Euros based on 578m outstanding shares.

The increase in number of outstanding shares must be related to the net debt reduction reported last month? Isn't this similar to printing more money to solve your financial problems?

by | Post ID: @RXPG2OO-5eli

Market cap info:

https://www.cgg.com/en/Investors/Shareholder-Information/Share-Price-Details

Capitalization 29,171,490 €

by | Post ID: @RXPG2OO-5idu

Market cap is simply the current stock price times the total number of shares. It's one indication of what the company is worth. Currently CGG shows a market cap of 761 Million Euros. Current stock price is 1.32 Euros.

by | Post ID: @RXPG2OO-5epl

It’s between 700-800m.

by | Post ID: @RXPG2OO-5mzv

Market cap is a red cap with " make CGG great again" on it.

by | Post ID: @RXPG2OO-1fgu

Looks like an error, probably related to all the new shares they have issued. Real market cap is around Euro 30 million. Likely to plummet further next week...

by | Post ID: @RXPG2OO-1rmd

WHAT IS MARKET CAP?

by | Post ID: @RXPG2OO-xgr

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