Retail traders aren’t just buying the dips on popular names like Tesla (TSLA) and Apple (AAPL). They’re also riding the upward wave on energy stocks — especially small US companies in Texas.
Nine Energy was one of the top trending tickers on Yahoo Finance on Tuesday. The stock is up more than 480% over the last 5 days. On Tuesday morning, Nine (NINE) was halted for volatility amid a massive spike following the release of the Houston-based company’s quarterly results.
A U.S. and UK ban on Russian oil imports, coupled with a ‘de facto ban’ on Russian Urals, has been sending crude futures and energy stocks higher. Occidental Petroleum is up 88% year-to-date. The Houston-based energy company backed by Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) has been one of the top-10 retail-traded names this week according to Nasdaq’s tracker.
“A lot of theses people don’t have…
