Why Suncor's Biggest Quarterly Loss Ever Isn't as Bad as It Seems
It's been a rough 2020 so far for Canadian oil major Suncor Energy (NYSE: SU). The company's shares were already down 6.2% year to date, even before it reported its largest-ever quarterly net loss on Feb. 6. Adding insult to injury, the market proceeded to shave another 3.5% off of Suncor's stock.
That seems like a mild rebuke for its biggest-ever net loss, and there's a reason for that: Things weren't quite as bad as they seemed for the Canadian oil giant. Here's what investors need to know.
Even though Canada's top oil company underperformed, it wasn't quite as bad as it sounds. Image source: Getty Images.
Source Fool.com
