Same thing happened to VLO after their reported EPS beat the estimate by over 30% a few days ago. Sure is a weird time to be in the market
I've mentioned to a couple of people that I don't expect a huge run in any of these O&G names if they post great ERs. With crazy WTI prices we should be seeing tremendous energy profits. We'll see, hope I am wrong.
But, "buy the rumor, sell the news" is the standard now....not much makes sense these days.
It's probably the reason why we see ER forecasts (likely inflated) from various stock opinion writers on the sidebar updates at ST. They want high ER estimates baked in rather than be a surprise. That way if a co. under-performs it tanks it further for short feasting.
I've learned a lot over the last 18 months about the market, but the most obvious thing is
who controls what. MM's, shorts, the SEC....a ton of corruption. It's amazing that the system functions at all.
It's been a fun run, but I'm eyeing the exit door asap....just hopeful and hanging on for a double digit run with CDEV and out.
Thereafter I'll sit on OTC dregs (lithium-EV, weed, oil, crypto etc.) ABML, PGAS, HMBL etc., and hope they do something. That's all house money anyway.