RE:SP DropI basically concur with what McTrader stated Bacul6.
When there is an increasing uncertainty around the world it does eventually
get to some investors who finally get a little spooked, particularly on a Friday.
I track daily a watchlist of 11 different companies including Axe and all their
SP's closed down by the end of the day.
I don't believe Friday's drop had anything to do with the company. All things
considered, particularly the harsh frigid weather they have been getting in the
Marwayne area that started over Xmas, they seem to be proceeding very
nicely with the pilot as it gets closer to completion.
Without question the world is certainly getting it's share of troubling news that
started with Omicron which spurred the first market correction. And that is still
the main elephant in the room today at the moment, that has had a growing
domino effect on many industries in many different ways.
And of course here in N.America we also have ever growing inflation. This will
eventually lead to bank interest hikes giving more problems for some in the
financial markets but also, some good opportunties for others. And so it goes.
To give you a broad picture of the market decline on Friday, Stockhouse posted
this item at the end of the trading day.
https://stockhouse.com/news/market-updates/2022/01/21/stockhouse-bell-energy-drop-takes-crude-toll-on-tsx