Anyone else buying ? I just bought some RIG for a longer term play. Bought a few days ago @ $54. I think this stock has potential to double. Gonna take a year + I think, but its a great longer term play IMO. Only thing is, Cramer likes this stock. I hate buying stocks for long term that Cramer likes, lol.
I bought NE instead a while ago at 33 or something. Holding it instead of RIG, don't wanna mess with legal issues that may or may not arise. And the entire sector is beaten down as a whole, so why take the risk with Rig when i can get a different company with same P/E ratio and cheap price?
Well, my target on this stock is in the mid 80's. It was in the 90's before this crisis started. I dont see why it won't get back to those prices. So far, the price action has been very bullish in the past 2 weeks. We'll see.