Our new pick is coming at 9:30Am!
Our New Pick Is : PGN – Paragon Offshores
Good Afternoon Readers & Welcome New Subscribers!
PGN closed with a last price of under .22c a share yesterday and has a 52 week high of 5.17!
It really is amazing to see a stock fall so far but the good news is, there is usually money to be made on bounce plays.
Since falling tremendously pretty much all year, PGN has been relatively flat the past few months in the .20-.30c range.
We believe this could serve as a nice support level that PGN could pop from, after all, this is still a NYSE company.
According to Shortsqueeze.com, there is 22.65% of the float short on PGN.
This is a huge amount of shares which could cause a covering frenzy if PGN were to start rallying upwards.
Paragon Offshore, together with its subsidiaries, provides offshore drilling rigs. The company is involved in contracting its rigs, related equipment, and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a day rate basis.
Please being your research now!
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