Canyon Services (CYSVF)

By mercer33, September 30, 2011

Any fundamental reason for the drop in price from $12 to $9 ?

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Travis Johnson, Stock Gumshoe Recent comment authors

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Travis Johnson, Stock Gumshoe
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I own the shares and I think there are two reasons for decline: worse than expected second quarter due to wet weather (not just them, everyone had problems in W. Canada with wet weather that delayed jobs during the snowmelt); and falling oil prices that almost always take down oil services stocks. I have no intention of selling and might buy more if prices remain this low — there does not seem to be any shortage of demand for high-capacity fracking equipment/crews in W. Canada, they just couldn’t work in the muck, which means utilization should be very high in… Read more »

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