Long/Short Equity, Special Situations, Currencies, Long-Term Horizon
Contributor Since 2010
Dallas based Transatlantic Petroleum (TAT) was down over 15% on July 27th after reports came out the Turkish military was targeting Turkish Kurds under the PKK banner. Many inside the country (and myself) believe this is Erdogan and the AK party's reaction to the Kurdish-backed HDP party winning 13% of the Parliamentary votes in last months election, where the AK party lost its majority in Parliament.
Turkey has gone through various coups since it was founded by Mustafa Kemal Autaturk, and it appears the military is stepping in now under Erdogan's orders.
The U.S. wins in this debacle as Turkey is now letting NATO (U.S.) war planes base in the country and strike ISIL targets.
The hashtag #NATOstopErdogan has been used millions of times in the region- highlighting the sensitivity of the Kurdish issue.
TAT may suffer from this political instability as many of the deals it made were made during the AK party-ruling era.
Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in TAT over the next 72 hours.