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"What is the Street missing," asks an agitated Leon Cooperman (owner of 24M shares) on the...
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Friday, March 1, 10:15 AM ET"What is the Street missing," asks an agitated Leon Cooperman (owner of 24M shares) on the SandRidge (SD -3.7%) earnings call. Noting TPG's estimate of the company's value is double the current price, Cooperman wants to know why the stock is languishing and how management plans to turn it around. In response, CEO Ward says the company continues to suffer from the "unorthodox" moves taken to stay afloat in 2009. He notes a string of earnings beats and the "extraordinary value" of the Mississippi play.
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This news story has 19 comments:
http://bit.ly/YS7KVK
They were also evasive about the 50% IRRs they claim.
SD is worth more without Tom Ward.
Best of luck longs, hope that TW is out in a few weeks.
CDM
I suspect that after Ward's answer to his question that he will vote his 24M shares with TPG-Axon
http://natpo.st/XNx0YJ
I checked several of the Sandridge news releases and could not find the last date to submit the proxy votes. I guess if they don't show a date Sandridge figures people will forget to vote and that is a vote for them.
http://onforb.es/13wJZFg
I do not own at this time any of the SD trusts. I will reconsider once Tom Ward is neutralized, whatever way it may be.