Quote:
Originally Posted by lowside67
I am so confused... NZ drops 10% yesterday for no reason with TAG only dropping 1%. Today, NZ posts great news, they are only up the same as TAG, 3.5% each.
It's like the market punished them yesterday for no reason and today is giving them no credit for good news...
Mark
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WTI @ 86$/BBL.
Oil was in the area of 110$/BBL when NZ was trading around 3$/share, now oil is at 86$/BBL, so oil is trading at 78.1% of the 110$ high, and NZ is trading at 75% of the 3$ high.
75% and 78%.. pretty clear relationship there IMO, tied to the price of oil.