Post by
Unlucky13 on Jul 06, 2021 8:45pm
How can everyone be so sure?
An 18 cent drop today doesn't indicate a good presentation. The market fears another oil price war and the collapse of OPEC and a failure to get a deal means a rocky path ahead. Oil may drop another $10 before a deal is reached and if the UAE splinters from the group we could see a dramatic price drop similar to the previous six years. If shale doesn't come back, it likely will maybe things stay tight but Iran and the UAE can threaten all the positive developments that have taken place. There are rumours of an UAE/Iran group forming to boost world oil production to regain market share. The UAE has the capacity to ramp up production and I really think they will
go it alone without OPEC. The US wants lower oil prices and will champion the exit of the Emirates. Every day without a deal means volatility and increased downside risk. An 18 cent drop on a Presentation day is a bad omen. That is beyond the normal range of trading.
Comment by
drifter699 on Jul 06, 2021 9:38pm
BayStreet, About institutional buying as someone had asked about getting relisted on exchange in USA previously. I don't know the true cost or process to Baytex but do you think they will get relisted? I know a lot of the retirement programs will not let workers buy pink slip stocks so maybe it would pay for them to be relisted!?
Comment by
Wildfury on Jul 06, 2021 10:44pm
Unlucky, you answered your own question, just short this stock equally to your long holdings, you can't lose, if it goes up you win, if it drops you win, simple, no worries