ION Geophysical: Stock to Watch
Seeking Alpha Analyst Since 2010
We recently added ION Geophysical to our list of Oil Service Stocks to watch and back in November, we speculated on Investors Hub that IO would be on an upward trend. As you will see in the following article, others believe that it is worth watching as well. Despite ION Geophysical’s somewhat tumultuous past, it looks like their recent lawsuit against Sercel might change their stocks for the better. It has been predicted that the ION Geophysical stocks will consistently increase for a few years to come. Seeking Alpha Contributor, Michael Filloonagrees… Following ION Geophysical the last few years, I would describe it as a roller coaster. ION began trading on the Nasdaq in 1991. In 1996, the company traded as high as $40 per share on very high expectations. But then Input/Output’s segment was unable to meet those expectations. Over the years, ION Geophysical has made several acquisitions: By 2005, ION Geophysical traded down to the $5 range, where it traded in a range between $3 to $15 until the company experienced a significant drop in stock price to a low of around $1 in February of 2009. Since then, the stock has been on a tear. ION hasn’t traded below its 50 day moving average since September of 2010. After a strong earnings reportin February, ION won a key lawsuit against Sercel. The lawsuit awarded damages, but more importantly, protected patents owned by ION. Read the entire article here: http://turnkeyoil.com/2011/04/02/ion-geophysical-stock-to-watch/
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