IO - The Wait Gets Longer For ION Geophysical's Recovery
ION Geophysical faces challenges
ION Geophysical (IO) is headed south in the short-run after delays in license rounds in Panama and the weakness in seismic spending by E&P producers. The current bearishness in the energy prices and the continued lack of investment in E&P activities are also exerting pressure on the stock. In this article, we will look into the near-term and long-run drivers affecting IO’s stock. In 2018 so far, IO’s stock price has declined by 46%, while the VanEck Vectors Oil Services ETF (OIH) declined by 33% year-to-date. OIH