Trade Alert: Husa

Discussion in 'Stocks' started by retaildaytrader, Apr 8, 2010.

  1. Down 5-6 points or about 28% today and it was because of this article:

    http://seekingalpha.com/article/197437-houston-american-energy-corp-set-up-for-collapse?source=yahoo

    Apparently there was this slam article on seekingalpha. The company came out in the afterhours with this explanation:

    16:19 HUSA Houston American Energy addresses stock trading volume and price; "attributable to an internet posting questioning the valuation of the company's holdings" (15.35 -4.99)Co advised that the jump in trading volume appeared to be attributable to an internet posting questioning the valuation of the company's holdings and inferring that the company is "Set Up for Collapse." Mr. John Terwilliger, President and Chairman of Houston American, stated, "We have reviewed the internet postings in question and believe they mischaracterize our company, our management team and the very nature of our operations." "Any inference that our company is set up for collapse is unwarranted and outrageous. We have no debt and operate with a lean overhead structure. This is consistent with our goal to identify attractive opportunities to profit alongside larger operators without having to carry the overhead of such operators. In addition, it should be noted that Houston American Energy is not a party to any litigation, nor is it aware of any threatened litigation."
     
  2. Time to get long HUSA!!!