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Started By
Message
Other than profit-taking, can someone explain why energy stocks just cratered?
Posted on 3/8/22 at 11:44 am
Posted on 3/8/22 at 11:44 am
XOM was up almost 4 dollars a share an hour ago and is now down .79/share
13
Posted on 3/8/22 at 11:46 am to udtiger
quote:
XOM was up almost 4 dollars a share an hour ago and is now down .79/share
"shite, this guy really is that retarded. This is going to take a while to fix."
Posted on 3/8/22 at 11:47 am to udtiger
Down 79 cents is not cratering.
Posted on 3/8/22 at 11:47 am to David_DJS
Lololololololol
Entirely possible
Entirely possible
Posted on 3/8/22 at 11:50 am to GumboPot
quote:
Down 79 cents is not cratering
From its high it is.
Posted on 3/8/22 at 11:50 am to udtiger
Oil futures had a quick drop on high volume. Still up on the day tho.
Posted on 3/8/22 at 11:51 am to udtiger
Probably the ban on Russian oil.
It'll be back up soon. Since the invasion, Exxon's stock has gone up about 10 points. It's up about 60% over the last 6 months.
It'll be back up soon. Since the invasion, Exxon's stock has gone up about 10 points. It's up about 60% over the last 6 months.
Posted on 3/8/22 at 11:55 am to udtiger
It was 100% the NATO announcement. It makes no difference but they don't understand that...I just saw an idiot lose a $30,000 profit on a shitty O&G penny stock in like 15 minutes.
Posted on 3/8/22 at 11:56 am to GumboPot
quote:
Down 79 cents is not cratering.
It was $40 stock a year ago...maybe more
Posted on 3/8/22 at 12:23 pm to thelawnwranglers
Maybe it was profit taking
Posted on 3/8/22 at 12:31 pm to udtiger
Generally speaking, when you are going to take a hit of 4 to 10 billion for the assets, leases and cash left in Russia; yes you're going to take a hit on stock prices.
Good luck with any dividends you were expecting too.
Good luck with any dividends you were expecting too.
Posted on 3/8/22 at 12:42 pm to udtiger
quote:Having to drill and produce when material and labor prices are soaring means ++costs. Those costs are permanent. High oil prices aren't. So... drilling when the costs are high ends in lower profits in the future.
Other than profit-taking, can someone explain why energy stocks just cratered?
Oil isn't like something on the shelf. Big upsets in the production demand don't equal higher profits. Big jumps in demand equal huge CAPEX expenditures that won't be recouped with time.
Posted on 3/8/22 at 12:44 pm to udtiger
Bidenomics....it's all based on stupidity.
This post was edited on 3/8/22 at 12:44 pm
Posted on 3/8/22 at 12:45 pm to udtiger
Many of the world's biggest companies have abandoned Russia over its war in Ukraine. Here are the 10 largest that have cut ties with the country — 3 of them wrote off $30 billion in assets in just 3 days.
'Splaining Big Oil Stock Prices to Dullards
'Splaining Big Oil Stock Prices to Dullards
Posted on 3/8/22 at 1:02 pm to udtiger
quote:
Other than profit-taking
Why does it have to be explained beyond the most obvious explanation?
Posted on 3/8/22 at 1:05 pm to CollegeFBRules
Someone (short) panic and need to recover. Dump enough to grab more.
Posted on 3/8/22 at 1:08 pm to udtiger
quote:
Other than profit-taking
It's profit-taking.
Posted on 3/8/22 at 1:10 pm to TexasForever
quote:This.
why energy stocks just cratered? by TexasForever
It was 100% the NATO announcement
The dow moved 800 points at about the same time. What is so dumb about all of this is that the NATO story was repackaged from an ABC interview with Zelensky from last night. "News" indeed.
Posted on 3/8/22 at 1:30 pm to Evolved Simian
quote:go look at WTI and any of the indexes at 12:00 today. The timestamp on the AFP story is 18:00 in France. Not rocket science
It's profit-taking.
Posted on 3/8/22 at 1:34 pm to udtiger
I think realization that break in oil supply infrastructure(which means less volume and less gross), loss of assets in Russia, and general turmoil that is coming is going to put a massive squeeze on all company profits, regardless of sector.
Mid-day trading could be profit taking. Hedge funds scalping.
XLE and PPLT stock almost look identical. Coordinated profit taking.
Mid-day trading could be profit taking. Hedge funds scalping.
XLE and PPLT stock almost look identical. Coordinated profit taking.
This post was edited on 3/8/22 at 1:36 pm
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