RE:What is happeningIt is not just an ATH thing. Oil and gas stocks are being slaughtered across the board this week. ATH has been one of the top performing stocks this year. When stocks go up, up, up, there is more room for them to fall back down, down, down.
Click on the % heading to organize this stock list. You will see the ATH retreat is leading the pack down.
https://www.theglobeandmail.com/investing/markets/indices/TTEN/components/ These irrational slaughters seem to happen a couple of times a year. These are buying opportunities. You need to have cash available and a strong stomach to take advantage of sales like this.
The misery might continue for a few more weeks. The next OPEC meeting is Nov 26th. Maybe that will get the oil market moving up again. When the EIA completes their software update and properly reports crude storage levels Monday, Nov 13th, maybe that will reverse the slide. As for the Middle East situation, it seems like it is just a matter of time before someone goes crazy and takes out some critical oil infrastructure in that region or elsewhere.
Most trading is automatic with computers all jumping on the sell side with not enough buyers looking to buy. The price slides. No worries. World oil consumption is still increasing. ATH is still a very profitable company. I am sure with their mountain of cash on hand that ATH will be taking advantage of this situation and buying back more and more shares at a good price.