Bullboard - Stock Discussion Forum Veren Inc T.VRN

Alternate Symbol(s): VRN

Energy Oil & Gas E&P

Veren Inc., formerly Crescent Point Energy Corp., is a Canada-based oil and gas exploration company. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its crude oil and natural gas properties and related assets are located in the provinces of Saskatchewan, Alberta and the United States. Its operating areas... see more

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TSX:VRN - Post Discussion

Veren Inc > There is the $5.60 break

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Post by Bpultra on Jun 14, 2021 2:22pm

There is the $5.60 break

you could just see it coming... was support at 5.58... but breaks that down to the lower 5.50's.. shorts just rubbing thier hands...

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Comment by Marty57 on Jun 14, 2021 3:11pm

Shorts should be concerned. WTI is over $70 and inching up. Share price is near its highest level in a year and a half. Shorts amount to around 23 million shares and as soon as they start covering they will exert upwards pressure on the share price. It looks to me that shorts are in a losing position right now.

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Comment by highalpha1 on Jun 14, 2021 3:38pm

@Bpultra & Marty57: I can empathize that investing in O&G sector, and in CPG in particular, has been a frustrating exercise. However, I agree with Marty 57 that with so many bullish catalysts in the market today -- and with CPG trading at its lowest valuation in history -- it is dangerous to be short this stock. Notice that on the days that CPG falls, it does so on relatively low volumes. ...more

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