RE: Share price7 Jan 2022 16:17
3 reasons for the jump up IMHO:
1) Predicted to break 500 This year
2) following OPEC (outcome of which was a big worry to some) Oil price has continued to stay high = just as predicted by the same people who called the 500+
3) despite being very contagious, Omicron proven to be low risk and hospitalisations have not spiked as feared by so many = hence lockdown extremely unlikely = again, called by the same people who predicted the 500+
For me, this will be as volatile as ever this year, not because of the oil price, which I believe will remain constant as well as rise further ($82 today but predicted to be $100), but with so many investors having averages of anything between £2 and £3.25 ish of substantial amounts = it will be very very tempting, almost impossible to resist cashing out whilst the going is good and taking profits, which of course will push the SP down again….
You may wish to take a look at the last 5 year swings = it doesn’t get this good very often
Obviously there will be dips due to profit taking + upon ex dividend and more than likely yet another Covid strain, which will be stamped upon by our wonderful scientists but not before the panic button is hit again and the markets drop
As always, DYOR, GLA and next time you fill up your vehicle at a BP, smile at the cashier because he is doing us all a huge favour!
Take care everyone