Via Yahoo.com:
Jones picked up 88,571,429 shares of Comstock Energy when he struck a deal to buy the company in 2018, paying $7 a share for a total investment of $620 million.
Share prices dipped in the ensuing months, leaving Jones holding a loss on paper. But there has been a longer play in mind for the family and the Covey Park addition was a huge part of that plan, significantly expanding the energy production of Comstock Resources as the firm moves forward.
The news was good enough to lift share prices 70 cents on Wednesday, which technically helped Jones claw back $62 million in the losses he was carrying on paper.
When Jerry said “It means I’m $100 million lighter as of this morning.”On paper, that deficit shrank about $62 million within eight hours.
Leave it to that Good Ol Boy to already make back his money.
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