EXCO Stock Short Selling Goes Up; Board Member Buys 297K Shares

EXCO Resources is an exploration and production company operating in East Texas/North Louisiana (the Haynesville Shale), South Texas (the Eagle Ford Shale), and in the Marcellus Shale region–in Pennsylvania and West Virginia. EXCO has a sizable Marcellus presence with 145,000 net acres in the Marcellus, having drilled and now operating 124 horizontal Marcellus wells. They’re also a company facing stiff challenges. We’ve enumerated those challenges for more than a year (see our EXCO stories here). Recently there’s been an uptick in “short selling” of EXCO stock. What does that mean? In essence, it means an increasing number of investors believe the price of EXCO’s stock will head lower than it is right now (see our short selling tutorial, “Short Selling” – An Important Signal for Marcellus-Related Companies). Below is the news about an increase in EXCO stock short selling, with a preface to put it in context, so you know how to think about it. Also below is news that John Wilder, an EXCO board member, has just purchased 297,100 shares of EXCO stock for $314,926…

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