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Today's plunge in GMX Resources (GMXR -21.2%) caps a 60% collapse in shares since the...

Today's plunge in GMX Resources (GMXR -21.2%) caps a 60% collapse in shares since the company's Feb. 19 production update. Its turnaround strategy has hinged on Bakken production, but it hasn't been enough; an even bigger worry is the liquidity crisis which appears to lie ahead, as GMX said it had just $46M cash on hand. For investors, today's hiring of a financial adviser looks like the last straw.
Comments (1)
  • tigers1
    , contributor
    Comments (15) | Send Message
     
    the boat got tropedoed.sunk. need a gov. bail out.
    25 Feb 2013, 03:44 PM Reply Like
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