RPC 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 RPC (NYS: RES) jumped 13% today as the price of oil went through the roof.
So what: Tensions in Iran and hopes that the U.S. economy may be strengthening have sent the black gold higher today. The other sector RPC serves, natural gas, was barely changed today.
Now what: Shares of RPC have been following the wild movement of oil recently, increasing the stock's volatility. RPC will obviously benefit from higher oil prices, but I wouldn't be buying on up days like today. Iran isn't likely to follow through on threats, and if it does there are more direct ways to profit from the rising price of oil and resulting economic fallout.
Interested in more info on RPC? 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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