Transglobe Energy Shares Jumped: 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 Transglobe Energy (NAS: TGA) jumped 10% today as oil prices rose.
So what: Oil is up a whopping 5.5% today as the market forgets all the worries that the global economy is headed for a slowdown. Higher oil prices means more profits, so today's spike in oil is great for explorers and producers like Transglobe.
Now what: With oil still at relatively low prices, there may be continued upside from here. If the market continues to gain confidence in future economic conditions, oil -- and therefore Transglobe Energy -- might provide a nice upside for investors. But we've seen in the past that oil can be very volatile, so investors could be in for a wild ride.
Interested in more info on Transglobe Energy? 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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