Don’t Buy Oil Stocks — 1 Chart Shows Why
As you know, the oil market has gone crazy the past few weeks.
You might be thinking of buying oil stocks now.
But there’s one important thing happening in the oil markets that no one’s talking about.
In today’s video, I have a chart that shows why oil’s price won’t stay high for long.
(If you’d prefer to read a transcript, click here.)
Regards,
Editor, Strategic Fortunes
Morning Movers
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Hycroft Mining Holding Corp. (Nasdaq: HYMC) is a precious metals mining company that is up 56% this morning. The stock is continuing on its upward trajectory that started with the Ukraine-Russia war fueling a price surge in gold, silver and other safe stores of wealth.
Lazydays Holdings Inc. (Nasdaq: LAZY) operates recreation vehicle (RV) dealerships under the Lazydays name. The stock jumped 23% on the news that one of its largest holders, B. Riley Financial, offered to buy the RV retailer for $25 per share in cash.
TeraWulf Inc. (Nasdaq: WULF) develops, owns and operates bitcoin mining facilities. The stock is up 22% as it continues to bounce back from earlier in the week when its price plunged to the lowest level since going public.
Humanigen Inc. (Nasdaq: HGEN) develops a portfolio of anti-inflammatory immunology and immuno-oncology monoclonal antibody therapies. It is up 20% after the company’s chief scientific officer disclosed a series of insider purchases of the stock.
Shoals Technologies Group Inc. (Nasdaq: SHLS) provides electrical balance of system solutions for solar, battery storage and electric vehicle charging infrastructure. It is up 17% after reporting record revenues and gross profit for the fourth quarter despite supply chain challenges.
Pearson plc (NYSE: PSO) provides educational materials and learning technologies. The stock is up 16% after Apollo Global Management confirmed that it is in the early stages of evaluating a possible cash offer for the company.
NN Inc. (Nasdaq: NNBR) manufactures and sells high-precision components and assemblies for the electrical, automotive, general industrial, aerospace and medical markets. It is up 13% after the company beat fourth quarter earnings by a wide margin and provided a strong outlook despite the macroeconomic headwinds the company is facing.
Red Robin Gourmet Burgers Inc. (Nasdaq: RRGB) develops, operates and franchises full-service and casual-dining restaurants. It is up 13% after the company reported fourth-quarter earnings showing that the business is returning to normal operating conditions as the Omicron variant recedes.
Just Eat Takeaway.com N.V. (Nasdaq: GRUB) operates an online food delivery marketplace globally. The stock is up 12% on reports that it is the subject of takeover speculation following the pressure it has been facing lately to explore strategic options.
TMC The Metals Co. Inc. (Nasdaq: TMC) explores for nickel sulfate, cobalt sulfate, copper and manganese products on the seafloor. The stock is up 10% as investors, political leaders and businesses turn their focus to the seabed for key metals like nickel in these low-supply conditions.
My career on Wall Street started while I was in college. I spent a summer interning for Merrill Lynch in the middle of the ‘90s bull market. I was fascinated with trading, and as a result, after college, I joined Salomon Brothers in the famed mortgage bond trading department. Later, I spent time at Citigroup working with credit derivatives. Eventually, I needed to walk away from the excess of Wall Street. That’s when I joined Banyan Hill in 2017. Now I help readers get ahead of the market and build their retirements.
