The champagne cork feels like its popped for the energy stocks with heavyweight WPL having rallied over 25% in just a few weeks, the oil price has rallied but the gains across the sector have that significant FOMO feel about them – “Fear of Missing Out”. The sector clearly doesn’t tick the in vogue ESG box but as we saw with Whitehaven Coal (WHC) it’s often like a game of chicken and when 1 or 2 fund managers start buying the stampede can follow – ESG is the acronym for environment, social & governance or as many refer to it ethical investing.
MM is bullish WPL initially looking for another 15% upside
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