Post by
EstevanOutsider on Apr 09, 2022 8:07am
Is Nuttall's fund invested in STEP?
In Q4 a large buyer at Peters added millions of shares and it didn't stop until Q1. This buyer owns close to 10% of all outstanding shares, a normal position for Ninepoint. These shares would have probably been the same ones Eric Nuttall owned in 2018 when STEP was a top pick along with Trican. I am not sure if it was Eric as he has not ventured into OFS yet outside of a short entry into Trican last year when he bought Armonyan's positions, but it makes sense he would go back given the distressed valuation with strong fundamentals.
I could see him picking Trican-STEP again together as his fund is so large and he needs torque. If he does disclose his position into STEP, assuming he is involved, the returns are going to be EPIC.
We'll do well regardless but that will be awesome if he's in.
Comment by
Danzel88 on Apr 09, 2022 2:08pm
Your call on Step is a good one. I purchased a decent position about a month ago and am happy already. I think 10-12 by 2023 is attainable or new ATHs
Comment by
EstevanOutsider on Apr 09, 2022 8:33pm
Crazy thing is even at $10, STEP would only be 4.6x ebitda based on $145M which is what ATB and BMO are projecting for 2023. That doesn't include the $21M the company expects to pay by ye. STEP is my fav candidate for a triple bagger.