Trican Well Service Ltd T.TCW

10% one day increase!

[Guy5354]

Highly unusual for this stock to go up 10% in one day. Volume has been high recently. Does anyone know what is going on? New profitable contracts? Takeover in process? Don't get me wrong, very happy to see it but is there something going on with TCW to explain this day?

[JohnSP]

Also lovin it, but no idea why, general up turn in E&P & OFS stock prices today helped , but wow +10%. Volume was similar highs 1 week ago and share price minimal moves: https://ca.finance.yahoo.com/quote/TCW.TO/history?p=TCW.TO Read an article that WTI down 22% over last month and oil shares only down 2%, so I think worm has turned and big money moving into oil shares. But no idea

[JohnSP]

One reason, Canadian Federal Budget had (excess profit) surtax on Banks & Insurers, but not on oilpatch, thus relief rally.

[Guy5354]

Thank you for the response. I can't help but think there is something else, something bigger going on. I did not sell either and will ride it out although at 4$ I would be just breaking even after a few years of disappointment and paitence. You would think 2022 will be a good year for the oil patch so I will continue to be paitent. Is TCW looking for an acquisition maybe? 

[EstevanOutsider]

There was some bullish notes from Peters  & Co last week suggesting Trican will bring on an 8th fleet and also obtain pricing power while inflationary costs to the company are actually reduced. I think the Blueberry issue being resolved soon plus a potential LNG announcement from Shell in May could be received incredibly bullishly for Trican and other oilfield service companies. I also

[scelaton]

I can't explain the exact timing but there are certainly macro national and international trends at play IMO. Nationally, I suspect there is relief that the new budget did not target the O&G sector nearly as harshly as expected. In fact, the message is to carry on with your business but do so responsibly. TCW is way out in front of this. "As part of the government’s goal of reducing

[firstworld]

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