The announcement that ZN is transitioning to OTCQX
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Posted On: 09/01/2020 9:28:37 PM
The announcement that ZN is transitioning to OTCQX is most likely the driver for the substantial drop in share price. I suspect it could go down further since the investing community will generally see this as a strong sell action.
https://www.zionoil.com/updates/press-release...ic-market/
However, the underlying business has not changed. If they negotiate their way around the challenges of COVID-19 in Israel, they appear to have enough financial means to make a run for at least another major drilling effort and now they have the 3D seismic data to help guide them. Furthermore, they are unusual in that there is a large pool of investors who are investing in ZN not only for future gains, but also as an activity of faith. In short, if ZN was worth the investment a couple of months ago, nothing has really changed.
https://www.zionoil.com/updates/press-release...ic-market/
However, the underlying business has not changed. If they negotiate their way around the challenges of COVID-19 in Israel, they appear to have enough financial means to make a run for at least another major drilling effort and now they have the 3D seismic data to help guide them. Furthermore, they are unusual in that there is a large pool of investors who are investing in ZN not only for future gains, but also as an activity of faith. In short, if ZN was worth the investment a couple of months ago, nothing has really changed.
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