MM was gearing up to buy WPL under $30 only for it to bounce from $30.27 frustrating but something similar is probably going to happen again in 2022. The amount of US petroleum inventory is at 14-year lows which obviously creates a tailwind for WPL but considering the current volatility and huge rally year to date we’re not tempted to chase the stock even if it pops above $35, for now we will remain patient looking to buy a pullback sub $30.
MM is neutral / bullish WPL around $33
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