Ninepoint’s Athabasca Bet Delivers 6,500% Gain on Cenovus Oil Merger Deal
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When Ninepoint Partners LP bought a nearly 10% stake in Athabasca Oil Corp. in early 2021, crude was trading around $50 a barrel and shares of the overleveraged crude producer had plunged into penny-stock territory.
The merger deal with Cenovus has resulted in a remarkable 6,500% gain for Ninepoint, showcasing the significant turnaround in the value of Athabasca Oil Corp.
NinepointAthabasca OilCenovus
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“When Ninepoint Partners LP bought a nearly 10% stake in Athabasca Oil Corp. in early 2021, crude was trading around $50 a barrel and shares of the overleveraged crude producer had plunged into penny-stock territory.”
Bloomberg — Ninepoint’s Athabasca Bet Delivers 6,500% Gain on Cenovus Oil Merger Deal