Sold my Obsidian Energy stock

Kevin

Administrator
Staff member
#1
Projections put Obsidian Energy not making a full recovery until the the middle, or even the end of 2019. So I sold it all and bought General Electric stock.

The reason I bought Obsidian Energy stock is because it was doing very well before the price of oil dropped out. Now that the price of oil is moving up, it would make sense for oil stocks to recover right? For some reason Obsidian Energy is still losing ground. I am not going to sit on a stock that is losing value while the rest of the oil sector is moving up.

GE seems to be an excellent buy. That is if the CEO and CFO and turn the ship around.

Let's talk about GE stock in another thread.

So long Obsidian Energy, you will not be missed.

I will check on the stock from time to time. If it looks like things are turning around I may buy some.