Today we will officially delist a stock that you may never have heard of and probably will never care about but whose story might reveal great insight into the current investment environment.
Someplace, somewhere a small violin is playing for Superior Energy Services (SPN), who has recently been contacted by the New York Stock Exchange in regards to their “abnormally low price.”
In 2014, SES was ranked by Fortune as the 534th richest company. Boy how times have changed. Over the last 5 years, the company contracted by just 17% but as we can see, the stock price has slid a whopping 98% since the highs at the beginning of 2017.
The company is more than happy to buy its own shares and have announced a buyback offer that is significantly above the market price, yet it seems that investor interest has simply fallen off and they’re being forced to take the company private.
Looking at some of the top traded oil exploration ETFs, we can notice a similar trend where only a select few are doing well, and the rest seem to have sprung a leak.
My friends, these are the winds of change. Now that impact investing is the order of the day we can see that the world is already starting to heal itself.
As the Scorpions aptly inserted at the end of their hit song…
“When you look at it from up here, you get an appreciation of how the world is a beautiful place and we do need to take care of it.”
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