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Stock Market & Financial Investment News

News Breaks
June 25, 2014
13:48 EDTPVASoros Fund reports 9.53% stake in Penn Virginia
On June 25, SFM sent a letter to the company reiterating its view that the best path to maximize share value would be for the company to be sold. It also expressed its disappointment with the company's rejection of its suggestions that the Issuer provide additional financial incentives to its management team to align their interests with the Issuer's shareholders in the event of a sale. In the letter, SFM also expressed its concern with what it believes to be the company's recent missteps, including: (i) the recent investor presentation failures and the resulting decline in the price of the Common Stock; (ii) the company's private offering of convertible preferred stock at a significant discount to inherent value, which diluted existing equity holders by approximately 21%; and (iii) the intended use of the proceeds from such offering. SFM also noted that the board of directors of the company has presided over a long period of decline in the share price, which further supported its view that the company should pursue a sale. Finally, SFM reserved the right to take any and all actions it believes necessary to ensure that shareholder value is not further eroded if the company fails to pursue a sale.
News For PVA From The Last 14 Days
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March 27, 2015
10:15 EDTPVAOptions with decreasing implied volatility
Options with decreasing implied volatility: ASPS WLL PVA FIVE NSR BBRY RHT LULU RH APOL
March 17, 2015
11:45 EDTPVAPenn Virginia volatility of 126 at upper end of historic range
Penn Virginia overall option implied volatility of 126 compares to its 26-week average of 88 according to Track Data, suggesting large price movement.
10:26 EDTPVAOptions with increasing implied volatility
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