Anyone know why the stocks have dropped huge over the last few weeks, we saw a surge up then bang....way down again??
9 replies (most recent on top)
the delta variant and renewed push for lockdowns and masking is hurting the stock market.....again
Alberta produces all of its own fuel products and sells the excess to BC; having Cenovus spend tens of billions of dollars on a refinery in Alberta when the market is saturated while being thousands of kilometers from tidewater to sell the additional production is foolish.
Down down down it goes. Where it stops nobody knows. Near $1 like last time. So entertaining. Most hated company in the oil patch. CVE Exec Suite get a gold star for running the company into the ground. Congratulations you mo--ns!!!
Maybe Cenovus could make gasoline right hear in Canada. All those years producing oil and natural gas right here in Canada and never sold one lick of gasoline here in Canada. Peter Lougheed told me a long time ago that if we continue sending raw product out of province and country our good working people, our precious resources and our economy would die. Cenovus stock price lol... Select a coffin.
Cenovus stock will be back down around $7 shortly
Haven't you heard, oil is bad. Lithium is the latest cool thing to be into.
Why is the gas price up at the gas stations then?
Most oil and gas stocks dropped last week so its consistent with crowd. There also is the issue that Conoco Phillips is gradually selling its shares into the market which exacerbates the issue and limits upside until they dispose of their stake. I would expect the company to announce some share buybacks if enhanced cash flow from oil prices permit to mute impact of COP disposition.
CVE will always lag behind its better managed more profitable competitors.