U.S. Markets closed

Seadrill Stock Fell 32% in Week 21

Sue Goodridge
Seadrill Stock Fell 32% in Week 21

After a fantastic run for Seadrill (SDRL) in week 20, the stock fell in the following week. In week 20, Seadrill reached a 52-week high of $0.73. The stock rose more than 98% in week 20. This situation turned around in week 21 (week ending May 25) and the stock fell more than 32%. We already mentioned in our previous article that the stock rise was not based on fundamentals. Also, Seadrill’s technicals suggested the stock was overbought and overvalued. Thus, a fall in Seadrill’s price was expected.