Great Oxy quarterly report and MM's and shorts highjack stock. Now I could see this one going up, up and away but, still no excuse for this stock going down at all. And people say the stock market isn't rigged?
There's always shareholders who want to unload shares. Many wait for good news, like a good quarterly report, to unload their shares. The decline in OXY shares, after a good quarterly report, isn't an unusual occurrence. Also, I believe that shareholders are not satisfied with the progress that OXY is making at increasing shareholder value. So far, OXY management has only released small and insignificant plans toward reorganization.
I know, It's still frustrating in my eyes. It doesn't seem right at all. I get it if a company gives some piece of bad news like missed revs or missed EPS or forward guidance. I've seen that story. But to beat and have it sell off, that's what is wrong.
I hope it continues the upward climb it has started.