Monday, May 30, 2016

Noble - CEO Resigns, Start of New Era

5 years ago on 9/11/2011, I shorted Noble and made 40 cents over night as the stock gap down heavily due to a shocking overnight news. The CEO got sacked and resigned. Click and read my 5 years ago trade.

Today current CEO resigned but the stock did not collapse. Looking at the past 5 years, even since Yusuf took over as the CEO, the stock has been down trending all the way till today and hitting a low of 0.265 in Jan 2016 this year. As of now, I am not sure who will be the next CEO or what will the new CEO do to make the company turnaround but one thing is sure, Noble has hit a all time low and it's now not the stock to trade. Will a stage rebound and a miracle happen for Noble for higher price to come? Only by watching the chart for the next 2 months can I then give an answer.

picture source: The Business Times

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