Last week Inter-oil corporation (IOC) liquidated 38% of their company to finance the building of natural gas and oil rigs in Paupa New Guinea.
The projected profit from the rigs is said to be $4 billion-- which is $1 billion over the market cap.
The drop of $30 a share last Friday would scare any analytic investor but keep in mind that it was to finance a project worth a billion dollars more than the company as it was then. Accordingly, upon completion of the project the stock will rise above what the stock was worth before the liquidation.
IOC closed today at $61.. $5 higher than last week's close at $55.19. This is very substantial taking the price of this stock into account.
I made around $10,000 and 21.5% returns in one day just day trading this stock. I am very convinced that the price of each share will continue to rise.
Here are some sources for you to look over, so they may help you determine if you want to invest in IOC.
http://finance.yahoo.com/news/nyse-stocks-posting-largest-percentage-174225292.htmlhttp://seekingalpha.com/article/1885751-interoil-sell-off-provides-a-big-opportunity?source=yahoohttp://www.fool.com/investing/general/2013/12/09/is-interoil-a-bargain-after-its-recent-fall.aspxand for shits and gigs here's me, ranked #1 out of 95 in my econ class
https://pbs.twimg.com/media/BbFHEapCAAELiKy.png
Yes IOC is in red. I bought it right before market close because I think it's going to jump substantially again tomorrow. It dropped in price by 2 cents a share right after I bought it.