I'm not BSing about the Bahrainis' role. It was the entire reason Bush sold his stock when he did. The announcement of the off shore drilling contract had boosted the price of Harken shares.
The whole thing was a scam from beginning to end designed to put money in the pocket of President Bush's kid. In the end, the wells never even got drilled because there wasn't enough oil there to make it worth while.
Boy did they screw the pooch if they were doing it to raise the price of the stock..... Gosh looks like they lost money for him if that was their object.....
Remember the Bush sale date was June 22, 1990
Date | Open | High | Low | Close | Volume | Adj. Close* |
The June volume does not reflect the $845,000 sale by Bush, which would be about 211,000 shares. June volume is listed on your chart as 12,700. Was the sale made off the record? There have been public statements to the effect that the stock purchase from Bush was made by a wealthy Bahraini, again implying that the whole thing was a set-up.
Anyone who has followed the financial escapades of the Bush family would not be surprised by the above.