MCEP - Mid-Con Energy Partners: Trading Mania Drives Its Unit Price Up
The price of Mid-Con Energy Partners' (MCEP) common units soared after its Q1 2020 results were announced. There was nothing positive enough in its report to justify the increase in price, though. Rather, it appears to have been prompted by traders jumping on yet another low market cap oil stock, perhaps in the mistaken belief that it was a good thing that Mid-Con's reported revenues went up over 12x compared to Q1 2019.
Reading The Income Statement
It appears that some traders may have reacted to the report that Mid-Con's revenues went up