I have been accumulating RIG shares for sometime now. I have always thought the company is oversold and undervalued since it dipped below $5 per share. Now I even feel stronger about my bullish case with oil prices so high and the overall world crisis. I wrote few blog posts in the past explaining why I am bullish on RIG. You can check them out on stocksavenue. Here is the last article I wrote sometime last week. It's called RIG is Heating Up.
I know many disagree with me on RIG because of the large amount of debt, but circumstances are changing in their favor. Of course I could be wrong, but I see RIG going higher and at least that's my opinion. I don't see oil prices going back down anytime soon. I am gonna stick around for a while and see where this will take me. I am aiming at least $12 per share within 1 year. Yes that's quite an appreciation from around $4.20 per share, but I believe it can happen.
If you have been following RIG and you know something that I don't or if you have a different opinion, please share. GLTA!
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