Post by
filefish on Mar 14, 2022 5:36pm
MEG stock
Stock is down from 21.17 high on March 8. Thats over $1 billion in market cap in 1 week - ridiculous .
I started accumulating again the shares I sold over the past month . WTI pricing over $80, MEG is still a cash machine, and quickly deleveraging. Buybacks that kick in starting in April/May should support this stock from the day to day volatility .
Comment by
newcoin on Mar 14, 2022 7:39pm
I'm going with $100 oil for the next three years. MEG is worth a fortune.
Comment by
Chops76 on Mar 15, 2022 12:29am
Maybe we should ask Eric Nuttall how many shares he sold on that high!! Like he didn't see the dump coming before he pumped oil stocks.
Comment by
ROIcrusader on Mar 16, 2022 10:19am
It would appear he's buying the dip: https://twitter.com/ericnuttall/status/1503714322001715207 @CornerstoneOil saying Brent fair value is $108. Energy stocks discounting <$60. In between sandcastles and water slides, I’m topping up positions trading
Comment by
Newbern on Mar 21, 2022 8:10am
MEG is closely tied to bitumen prices. The SP spike was due to bitumen prices rising then falling.