Long-suffering California Resources (CRC) shareholders just got hit with still more dilution. As long as the debt load remains high, there will be more of these offerings in the future. This management needs to reduce the debt load. The miracle is the debt reduction already accomplished. Sometimes though fantastic progress just does not make for an investment proposition because the debt hole is just that deep.
This stock remains a trading vehicle for those traders who can handle highly speculative securities. As the latest offer demonstrates, the asset values realized by long-term shareholders is liable