ION Geophysical Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of oil and gas service provider ION Geophysical (NYS: IO) jumped 10% as a number of drivers sent the stock higher.
So what: The market has obviously bounced higher, and as ION is a volatile stock it shouldn't be surprising it's trading higher. Oil is also trading more than 1% higher today, and if this move continues, this could bring more demand for the company's services. Internally, the company named Gregory Heinlein as CFO, a post he previously held at Genprex.
Now what: I'm not jumping all over the move today since there wasn't any great driver like earnings or a new contract. But the developments in Europe could help keep oil prices relatively high, or even lead them to appreciate, which should be good for ION. For now I wouldn't change your investment thesis, but would enjoy the pop while it lasts.
Interested in more info on ION Geophysical? Add it to your watchlist byclicking here.
At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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