Nov. 10, 2020
I like to write down my lesson learned to invest on Suncor stock in short future. Crisis just creates opportunity for a good researcher and also an investor. I show my weakness to talk too much about market risk, my loss, and then do not hold position of Suncor stock 1000 shares. Market risk is hard to get rid of, all institution buyers are also acting on speculation as well.
Suncor Energy (TSX:SU)(NYSE:SU) was unarguably one of the hardest-hit stocks in the energy sector amid the pandemic. It surged almost 25% on the vaccine news yesterday and reach a two-month high. The entire energy sector zoomed after crude oil prices soared 6.6% on November 9.
The integrated energy giant Suncor Energy has lost more than $4 billion in the nine months of 2020. Lower demand for crude oil drove prices lower, ultimately putting a burden on Suncor’s financials.
However, Warren Buffett-led Berkshire Hathaway has been doubling down on Suncor Energy stock for the last couple of quarters. It held more than 19 million shares of Suncor at the end of Q2 2020.
Suncor Energy operates at each node of the energy supply chain. That means it produces oil from its oil sand assets, refines and markets as a finished product. Suncor Energy stock yields a decent 5.5% and looks attractive, particularly for income-seeking investors.
I should think like a manager. Suncor went up over 20% first day, PPL went up only 6%, and next day on Nov. 10, 2020, it went up 8%. I should think more carefully and bet on PPL.TO and ENB.TO. Just speculate and take some risk. Move on from SU.TO quickly. As an investor, it is important to act quickly and try to reason properly as well.
If I bet on $60,000 dollars on ENB.TO and PPL.TO on Nov. 10, 2020, I should find good gains already. Stay positive, keep searching.
Do not stay in the past. Stay in the moment, and figure out what to do next.