TRANSOCEAN $RIG – NEW CONTRACTS SIGNED
After the close today, Transocean ($RIG) reported its July Fleet Status report. RIG announced several new contracts and continues to execute in the face of tremendous market pressure. The report is here if anyone wants to read:
TLDR: RIG is crushing it. Still remains my #1 pick in energy. I own nearly 50k shares and August option contracts. The stock hit $5 two weeks ago before oil prices fell, but the OPEC agreement will drive prices towards $80 by the end of the summer. I think RIG stock is going to $10 and beyond.
I know a lot of apes have been getting hurt past few weeks – this is a moneymaker. I believe in RIG and its management team, and I know they will emerge from the COVID crunch as the undisputed market leader, now that all their competition has been killed off.
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July 21, 2021 at 03:14PM