Are we going to continue like this, and if so, why? I suspect that the NASDAQ-listed Centennial Resource Development, Inc. shares may provide a clue to the answer.
So far today at least, there’s been no news — good or bad — about the company, and yet it is falling right alongside Plug.
And what this tells me is that investors are still all shook up as Centennial Resource Development has often experienced volatile trading in recent months, as company and industry news left investors vacillating between buying and selling moods. A sustained increase in oil prices will make it much easier for Centennial to get through the challenging oil market environment. The problem is that people are divided on what’s going to happen from here forward.
It made me wonder whether everyone had gotten just a wee bit too scared about Company’s future.