SM - Why Oasis Petroleum SM Energy and QEP Resources All Fell Sharply Today
Shares of U.S. exploration and production company Oasis Petroleum (NYSE: OAS) fell as much as 36% in early trading on June 10. QEP Resources (NYSE: QEP) dropped 33% and SM Energy (NYSE: SM) fell a relatively modest 16% or so. It's the second consecutive day that these companies have faced heavy selling on Wall Street.
The last two days, however, have marked a huge reversal in attitude toward these stocks. In fact, over the past five days, the shares of SM Energy are still up 29%. QEP remains higher by nearly 95%. And Oasis' gain is an incredible 155% or so. What's even more telling is that at one point during that five-day span Oasis was up more than 240%, with QEP peaking around 150%, and SM Energy reaching a high of a 60% or so.
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