Suncor Energy Inc T.SU

Can someone explain this to me?

[Karl63]

I'm a shareholder, and quite happy with what the price did today.  But I don't really understand WHY the big change; right now it seems that a shareholder has written a letter to the company and suggested changes that would benefit and improve company value.  Sure, great intentions, but is that alone really worth the stock going up 12% today?  I sold half my position at $46.75 Cdn - don't know if that's right or wrong, but I couldn't resist . . .

[Co2Harvest]

I think that was wise. I was wondering the same thing and that's what I would have done too, if had been watching today (geez!). I've learned so many times that big jumps like this can be so fleeting.

[vr6loco]

I think the samething, then FOMO kicks in. Needless to say it was a great day and I think this is just the beginning of more great days.

[jx7000]

However, if SU announces a significant profit and dividend increase, then $47 might just be the start of a wonderful thing. 

[Co2Harvest]

Yes, I tend to think you are right. If I had cashed some out today, it would have only been on the chance that it would drop tomorrow or next week. I'd have been getting right back in anyway. Suncor has been a good bet for me, so far. GLTA

[1234bmth]

I don't think a sudden run like today is without a reason, someone knows something that we don't. Maybe some big names such as Baffett stepped in? just my opinion.

[Karl63]

One of the reasons that I sold half today was because of a disturbing recent memory.  It was just a few weeks ago that BAM.A took a quick run from its then typical $68-$72 price range to $79 and change, stayed there for what seemed like 10 minutes and then dropped like a stone.  Something about management suggesting they could parcel off the company to "unlock shareholder value"

[w8asec]

A lot of new names on this board....talking selling.... shorter term investing.... welcome, we all have done short and medium term. I've been in this since $40/barrel WTI, knowing you can't fight covid without oil.... hell, you can't build an EV without oil. Anyways we are nowhere near the SP that we would have had with decent management...should be the same SP as CNQ, so many longs

[Galic1]

I sold today too I was holding a large amount of shares it was a lot of money for me so had to lock it in, I am not impressed on how SU is muniplated if you look at last week SU was trading at $43 on Thursday then it dropped to $41 on Friday then $38.75 on Monday where I was buying aggressively made more money then I expected with the markets so crazy better to have one bird in hand then two in

[Karl63]

Well, I'm glad I'm not the only one that took advantage of the price rise.  I see a pretty lukewarm response from Suncor to the Elliot letter; I wonder how much this excitement can translate to meaningful improvement.  I'm still a long term oil bull, but think I'll take the monies from my Suncor sale and buy CNQ tomorrow.

[altagold]

ITS GOING TO $62 cnd as sure as spring is coming  .. like soon    >>>>TO THE MOON ELLIOT GO GET THEM  $$$$$$$$$$

[Co2Harvest]

Elliot seems to be mostly looking at low-hanging fruit (e.g. operations, safety) to get the stock up over $60 within roughly 2 years (based upon their case studies). Sadly, it shouldn't take a hedge fund to tell management that's what should have been the priority but in my view this added external pressure is good for all of us who are invested. After they deal with the low hanging fruit,

[newtonboy]

Elliot should stay in the car and let Suncor management do what they are paid to do. Serious investors do not need them or Cramer's opinions in order to make sound investment decisions. Considering all the hurdles and sand-traps the Feds are throwing at Suncor et el, they are doing a great job. Believe me Suncor does not take Safety or environmental issues lightly and are constantly attempting

[thumble]

I respectfully disagree, when firms such as Elliot go after something is because they've done their due diligence ! Suncor management has underperformed while overpaid, their facts are solid.