I told you.........This would happen, at some point in the VERY near future. This is what rotation OUT of one sector looks like in real time. This isn't isolated to only Crew, but the whole sector. The smartest venture guys probably started slowly divesting themselves of these O&G names some time in early to mid 2022. And then then the bulk institutional investors followed soon right after, from mid to late 2022. What your seeing today with the massive drops & volumes are last group of mediocre institutional investors making that move to rotate out, combined with mostly retail investors.
With All world Gov't looking to fight inflation, controlling the cost of energy is EVERYONES main concern right now. Also Putin giving notice that he'd be looking for some resolution or "way out" from this Russian/Ukranian mess in 2023. Only makes these O&G names even less attractive as investments going forward in 2023.
What should follow in the next few months in this sector is some vibrant M&G which should be the LAST true sign of the end of this cycle. Maybe even permanentl, if certain things as i expect. Anyway just a heads up for my fellow investors......
GLTA