With oil prices falling to new record-lows, even Wall Street is starting to sway: small-caps in the energy sector are getting destroyed, when will this hit the big fishes too ?
Some of us may have seen the bloodbath of Monday for the US small-caps operating in the energy sector. For those who didn’t, here’s what happened in one only day:
- BreitBurn Energy (BBEP), down 18%
- LinnCo (LINE), down 8%
- EV Energy (EVEP), down 12%
- Atlas Resource (ARP), down 15%
- Oasis Petroleum (OAS), down 7%
- Vanguard Natural (VNR), down 9%
- Mid-Con Energy (MCEP), down 12%
And a monthly chart as well:
As we said, this is a complete bloodbath. But we’re still talking about small-caps, once (and if) this panic hits the large-caps, well, as Obama would say: “There will be costs”.