RE:RE:Earnings Friday May 6 Before Market OpenAs I mentioned on Monday May 2nd : "if past performance is any indication, decent earnings ( how can they be anything but decent ) on Friday could bump the share price up a buck or a buck fiddy, followed by a two or two fiddy drop in the following days."
Well ENB enjoyed the "buck or buck fiddy" pop after earnings, fast forward to today, Monday May 9th, and ENB closes DOWN 2 dollars and two cents, there's your two to two fiddy drop.
I have to admit, I figured it would drop AFTER the ex-div, I didn't think it'd drop that amount BEFORE the ex-div, like wowzers !
Which leads me to the next question : Where will the share price land after the ex-div ? Sub fiddy ?
Fiddy wrote:"Last earnings Feb 11th, ENB closed at 55.56, up a buck from the day before. HOWEVER, after the ex div date on Feb 14th, ENB closed at 52.79, and then 52.61 on Feb 15th. ENB never went back above 53 until Feb 24th.
"IF", and that's a big "IF", past performance is any indication, decent earnings ( how can they be anything but decent ) on Friday could bump the share price up a buck or a buck fiddy, followed by a two or two fiddy drop in the following days.
Place your bets, spin the wheel...."