MEG Energy Corp T.MEG

Can someone explain the tanking situation for Meg?

[CJInvestor]

Someone who is long preferably :)

[Offgridtrader]

I'm very long MEG and I wouldn't say that MEG is tanking, just range bound with some profit taking on the back of a great quarter and no new news/catalysts on the horizon.    I'm assuming others who are long too will chime in but we're all just patiently waiting for the next quarter or two when they announce they finally hit their debt target and switch to 100

[fdfd12]

I am long MEG. MEG is very tied to oil prices. Prices have gone down the last few months and that is why MEG is down. MEG is strongly correlated to the oil price. High beta with it.

[CJInvestor]

I am also in Meg for the torque but I fear right now this has more to do with the new ceo, Nuttall selling and the last Q miss. But I will patiently wait for the 40 buck mark which is what I wanted to sell at. 

[robert41]

Nutall still owns 3.5 million shares

[vwbusman]

Biggest thing to focus on for me is the WTI / WCS differential which is now down to around $11 or so and has been tightened for most of Q2.  This is great news for MEG and they will have almost a full quarter of this benefit.  This is something like $6-7 better than in Q1. Patience will pay off for MEG when they hit their debt target and really start to gain momentum.