Why Chesapeake Energy Stock Rallied 5% Today
Shares of exploration and production company Chesapeake Energy (NYSE: CHK) rose 5% in early trading on Tuesday. Although the stock quickly gave back around half of that gain, today's price move is pretty tame by recent standards. Over the past month or so, the oil and gas driller has seen its stock spike higher by more than 300% and just as quickly lose all of that gain to end that span with a loss of nearly 10%. This is not a stock that most investors should be looking at right now.
The big news driving Chesapeake's stock today was likely a jump in the price of oil. Like Chesapeake, black gold didn't hold its gains, which were driven by positive news on the trade front. So the up and down in Chesapeake's stock in early Wall Street trading makes complete sense.
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Source Fool.com
