grandriver Last April, I started coverage of Transocean (NYSE:RIG) stock with a “Hold” rating, saying that while the day rates were improving that its debt load was an issue. The stock is down over -20% since then versus an over 20% gain in the S&P. More recently, in September, I said its deleveraging story has becoming clearer, but its valuation and indebtedness compared to peers made it a high risk/reward stock. The stock is down -40% since that write-up. With the company recently reporting its Q4 results ...