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COM - W&T Offshore: The $1 Handle Is A Good Entry Zone But Capital Outflow Risks Remain

Direxion Auspice Broad Commodity Strategy

2024-06-17 04:30:49 ET

Summary

  • W&T briefly fell below $2 on Friday, its lowest level since November 2020.
  • The oil prices and the company's fundamentals are significantly better now compared to the pandemic period.
  • The selloff appears related to institutional capital outflows driven by factor rotation, not W&T's fundamentals.
  • The value proposition is already quite good but there is no technical "floor" in sight until the pandemic lows of $1.40 - $1.50.

For further details see:

W&T Offshore: The $1 Handle Is A Good Entry Zone But Capital Outflow Risks Remain
Stock Information
Company Name: Direxion Auspice Broad Commodity Strategy
Stock Symbol: COM
Market: NYSE
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