I should start by noting this is a micro-cap idea, with less than $100k worth of volume a day over the last couple of weeks. Risks and volatility are much greater with micro-cap stocks.
Opportunity
Source: Ranger Website
The idea is simple: Ranger Energy Services (RNGR) IPO'd in 2017 around $14 and has followed other oil and gas stocks in a downward trajectory ever since. They recently bottomed out just under $3/share, before recovering somewhat, and then receiving a $6 take-private offer from CSL/Bayou, who control ~65% of voting rights and allowing T.