Post by
Unlucky13 on Jun 02, 2021 10:10pm
Nuttal said $3.60 at $70 oil
Why is this threatening to go under $2 at $70 oil? I know why, it's a total mutt with industry lagging hedges. What a bunch of imbeciles hedging at $53.
Comment by
JamesT on Jun 03, 2021 12:35am
Management hedging strategy is based off company survival. The way they see it, they it doesn't matter if the stock price is at $2 or $10, they get paid exactly the same regardless. If the company goes belly up then they lose everything.
Comment by
Unlucky13 on Jun 03, 2021 7:17am
That's why the stock is getting hammered at $69 oil. Could end the day in the red under $2 at said prices.