Volatility is the name of the game right now in the oil and gas fields, and Camber Energy (NYSE:CEI) knows it. The energy and power solutions provider began today as one of Yahoo Finance’s trending tickers. CEI stock’s monumental gains to start the day accelerated a frenzy of trading activity. Before morning was over, it had fallen considerably, but since then, CEI stock has been on a gradual upward trajectory, leaving investors with plenty of questions as to the factors at play.
What Happened With CEI Stock
The day began with CEI stock shooting up by more than 28% in premarket trading. This spike has so far proved to be an early peak for the day, though, as the stock began to decline fairly quickly. It rebounded around noon and is currently up 2.53% for the day. While this gain is certainly an improvement, it’s appears that the previously red-hot energy stock may have fizzled out, at least in comparison to yesterday’s performance, in which the stock rose by 88%.
This week started out well for Camber, but momentum quickly shifted as shares fell by roughly 48% on Tuesday, Oct. 5. The final week of September, though, saw CEI stock rise by an astounding 161.63%.
When the stock began climbing rapidly yesterday, it sparked talk of a rebound. InvestorPlace’s Chris MacDonald attributed this rally to the momentum caused by retail investors, touting the stock’s ability to brush off the potential negative effects of a short report that had recently been published by investment firm Kerrisdale Capital.
Let’s see what digital investment communities are saying.
What’s the Word?
Following the short report, the sentiment on Twitter toward CEI stock has been overwhelmingly positive. Indeed, investors have been making it clear that they weren’t bothered by Kerrisdale Capital’s predictions. The company apparently received so many negative responses to it that it tweeted the following:
We’ve received quite a number of angry msgs & mean DMs, emails, voicemails in the past few days, as well as dozens of 1-star google reviews. May we suggest online anger management counseling from the kind people at https://t.co/lIEhik3cvJ. Use coupon code $CEI for 10% off
— Kerrisdale Capital (@KerrisdaleCap) October 8, 2021
One user tweeted:
$CEI heart if you think @KerrisdaleCap is garbage. ❤️
— Heisenberg (@Mr_Derivatives) October 7, 2021
Judging by the overwhelmingly positive response to the tweet, it’s safe to say that more than 3,000 people agree.
Another echoed the sentiment:
I’m cheering for $cei. People deserve this after the short attack
— Yates Investing (@yatesinvesting) October 7, 2021
One subreddit called r/CEI_stock is calling for investors to go big. As of now, the enthusiasm among members is strong, even amid the slight dips that CEI stock has experienced today. One member urged others not to panic when they saw dips, even in the face of short reports, noting these trends as common plays employed to companies to get users to sell shares too early.
Group members have been constantly referring to themselves as Apes, indicating that they may include some of the same investors going big on AMC Entertainment Holdings (NYSE:AMC), another popular meme stock that is experiencing considerable volatility today. The battle cry of “Apes to the Moon” echoes throughout multiple posts touting the stock’s potential to soar.
Others members are calling attention to the positive market performance of Viking Energy (OTCMKTS:VKIN), a smaller subsidiary of Camber, whose shares are up almost 18% as of this writing.
“This has been a crazy ride so far. I missed out on both the GME and AMC rides. I’m so happy I hopped in on this one early,” says one user, referring to two early meme-stock sensations, the former being Gamestop (NYSE:GME).
As we all know, this type of attention can drive up a stock, and Reddit investors love to bet against Wall Street, especially when the big firms call for a short.
This has been a fascinating saga to watch unfold, and it’s not over yet.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
