Post by
CJInvestor on May 21, 2024 11:57am
Can someone explain the tanking situation for Meg?
Someone who is long preferably :)
Comment by
fdfd12 on May 22, 2024 7:12am
I am long MEG. MEG is very tied to oil prices. Prices have gone down the last few months and that is why MEG is down. MEG is strongly correlated to the oil price. High beta with it.
Comment by
CJInvestor on May 22, 2024 4:55pm
I am also in Meg for the torque but I fear right now this has more to do with the new ceo, Nuttall selling and the last Q miss. But I will patiently wait for the 40 buck mark which is what I wanted to sell at.
Comment by
robert41 on May 23, 2024 9:25am
Nutall still owns 3.5 million shares
Comment by
vwbusman on May 23, 2024 6:34am
Biggest thing to focus on for me is the WTI / WCS differential which is now down to around $11 or so and has been tightened for most of Q2. This is great news for MEG and they will have almost a full quarter of this benefit. This is something like $6-7 better than in Q1. Patience will pay off for MEG when they hit their debt target and really start to gain momentum.