RE: Why dropping so much?However, in the future S will be able to run much more local and lower shipping cost material to its western refining operations. Some diversification out of Cuba. Also it would appear that more US based holders can "kinda" hold S where in the past they could not.
If S could freely be held by Americans we'd certainly get a better share price of S in general.
My only concern is Cubas developing ties to China and their ability to expropriate S's assets in Cuba and of course the strange lack of friendliness between Canada and China with business relationships.
S's market activities recently have demonstrated big boy behind the scenes activities to their betterment. Given that its option expiration despite the low outstanding amount I'd say we're going to close at 16 and base their at the end of day and next week.