23:27:24 EDT Tue 26 May 2020
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Precision Drilling Corp
Symbol PD
Shares Issued 275,912,513
Close 2020-05-22 C$ 0.74
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Successful Inv says sell Precision Drilling

2020-05-22 20:27 ET - In the News

The Successful Investor, in the May, 2020, issue, says sell Precision Drilling Corp., recently 48 cents. The Investor and a sister publication, Stock Pickers Digest, have been in and out of three different versions of Precision from February, 2002, to November, 2019. There was also a 2-for-1 stock split in May, 2005. Assuming a $1,000 investment for each of their buys, the stock has yielded profits of $4,705, but selling the current $24,000 position at 48 cents would yield a loss of $22,382. (The position comprises $1,000 invested on Stock Pickers' one recommendation, $22,000 on the Investor's 22 recommendations and a $1,000 investment made for portfolio purposes related to a reorganization in November, 2005.) Precision provides drilling services primarily to North American oil and gas producers. Its stock has plummeted by around 70 per cent since the start of March, reflecting an oil price collapse that has prompted many of its customers to drastically scale back their drilling activities. The New York Stock Exchange recently warned Precision that it could be delisted because its share price has fallen below the minimum standard. To rescue its NYSE listing, Precision is planning to roll back by as much as 1 for 40. Sell.

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