RE:RE:Now..... why would this stock drop?That would be Rob Nuttall if Ninepoint on BNN. He’s right on the fact that energy is the buy of the decade but you still have to pick em. If he says don’t buy pou, then go long.
Just because wti hits $69 doesn’t mean long term investors will flock into the stock. There is still a belief that wti is too high and won’t hold $60 two years out. Until that fact becomes clear, we will stay undervalued.
If you haven’t noticed, pou has been trading off Vii for the last two months. Pou was trading $1 higher for a good while until about two months ago when there was a long vii and short pou strategy by CPP given their insider position in vii and weighting issue. Vii missed on production, guided lower, and spent $40 m more than expected. The market sold off and pou was taken down presumably because the market assumes results will be similar at pou. I’m hearing production will miss due to weather but I’m hopeful the pain was experienced last week.