Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Here we go again, folks. Late last month, Global GeoPhysical Services
So what: Today's plunge makes a great buying opportunity. Back in April, I said: "The long-term argument in favor of buying this stock remains intact … Global Geo [is] still churning out free cash flow at the rate of $101 million per year. The resulting valuation of 6.4 times FCF tells me there's every reason to buy the stock."
Now what: The stock is now 13% cheaper than when I wrote that pitch. At 5.6 times free cash flow, that makes Global Geo an even better deal than it was last time around.
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