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OILX - Bankrupt Energy Stocks Leading The Short Squeeze Rally
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
Welcome to the what is this edition of Oil Markets Daily!
Ever since last week Monday, energy stocks that have already filed for Ch.11 or are about to have squeezed so much higher that it boggles the mind just to look at them.
Take Whiting (WLL) for example, with breakeven in the long-run of $60/bbl WTI, its stock is up ~100% just today.
The company has already filed for Ch. 11 with equity holders getting only ~3% of the reorganized shares. But the stock continues to surge because this rally isn't based on