Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Gulfport Energy
So what: Shares of Gulfport Energy are riding a wave fueled by higher oil prices today. Gulfport Energy is a high beta stock, meaning its moves are more exaggerated than the market, and oil is up big today, pushing the stock higher.
Now what: There wasn't any news from the company, so the stock is up because Gulfport Energy relies on higher oil prices to squeeze profit from each barrel of oil. If you're looking for a leveraged way to invest in oil, Gulfport Energy is a great way to do it. Even with the run Gulfport Energy has had since late September, I will sit out today's move and wait for the momentum traders to get out of the stock.
Interested in more info on Gulfport Energy? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his Motley Fool CAPS picks at TMFFlushDraw.
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