Noble Corp. (NE) shares have rallied together with other offshore drilling stocks on optimism about the economic recovery and the extension of current production cuts from OPEC+. Recently, I was wondering whether offshore drilling stocks will have a last rally before filing for bankruptcy like it often happens in such situations. Now, such a rally happens right in front of our eyes. This is the "pre-bankruptcy rally" which will soon fade for the following reasons:
- The coronavirus crisis and the corresponding decline in the price of oil has almost eliminated contracting activity on