Post by
MustangMatt on Dec 20, 2022 12:38pm
Insiders are buying
Today is a day where you can really see the tax loss selling play out. I am going to wager a guess that we are marking the low. Stock is oversold RSI under 30, it is also under the bolinger bands.
Also, the last 3 insider moves have been buys, I would not be surprised to see insiders buying today. My suggestion would be to unplug from the irrational selling and come back in the new year.
According to the market Kelt is worth less now then at the start of the year. How is a stock with the same balance sheet, but with an additional 10,000 barrels a day worth of production now worth less? Answer is it is a market distoration, cheers Matthew
Comment by
PabloLafortune on Dec 20, 2022 2:03pm
ARX had 505M in PDP reserves in 2021, Kelt had 44M. My guess is ARX will increase only a little for 2022 (will be reported in February 2023) whereas Kelt will see another substantial increase (48% in 2021). Yet ARX share price is up 48% YoY and Kelt is down 4%. Whatever.