Furstrating
There is zero alignment with the price of WTI. WTI goes up 40% since Jan 2019 and TVE barely moves.
@65 WTI this should have been in the $3.5 - $4 range - it couldn't even breach $3.
WTI goes down TVE sinks - WTI is flat it sinks again. This will go right back to low $2's as if were at $45 WTI.
FCF companies with positive earnings trade at fractions of the multiples of those companies that have never turned a profit or will never do so. Very frustrating. Capital markets are being taken over by algorithms, speculations, pump and dumps etc. Fundamentals don't seem to matter any more.