Sundance Energy Inc. (SNDE) stock fell in the aftermarket session on Thursday after recording the gain of 0.66% with a $1.52 per share price at the previous closing. SNDE shares fell 9.21% to drop at $1.38 a share in the late hours of Thursday 18,2021. Let’s see what made the SNDE stock red.
Top 5 Tech Stocks to Buy in 2024
Don't let the chaos of rising interest rates, potential recession, tighter credit issues, higher oil prices, and incessant geopolitical issues chase you from the markets. Instead, just wait it out. With too much fear in the market, go bargain hunting with tech stocks. We have complied a report with the five of the best ways to profit within this industry.
"Top 5 AI Stocks to Buy in 2024."
Click here to sign up for our free report & newsletter, plus bonus offer "Elon Musk just Tiggered a BOOM in These Stocks"
Sponsored
What’s happening?
There were no signs of any particular event happened that might explain the reason behind this bearish sentiment, no announcement of the earnings report, no press release by Sundance Energy, no analyst downgrades or decline in targeted per share price of the SNDE stock, no filing against the Sundance Energy by the law firms to justify this bearish sentiment. This is something confusing for the individuals who are looking for any particular reason behind the falling SNDE stock price.
If we go back to March 9, 2021, we find that SNDE filed for the voluntary Chapter 11 protection in U.S. Bankruptcy Courtfor the Southern District of Texas in order to strengthen its balance sheet and sustained future development.In connection with the Chapter 11 process, SNDE got relief from its $250 million debt to help its restructuring and enable it to strengthen its balance sheet by devising certain plans and strategies for sustainable future growth. Term loan lenders also ensured at least $45 million in debt-in-possession financing to the SNDE stock to meet its operating expenses.
Here is what you need about the SNDE.
- Sundance Energy Inc. (SNDE) is an on-shore oil and natural gas company operating in the development and production of oil and natural gas.
- SNDE stock has a market cap of 10.451M and its operational area is spread on 41,000 net acres.
- Sundance Energy was founded in 2004 and is headquartered in Denver, Colorado United States.
Conclusion:
SNDE stock has passed through many difficult phases in the past few years and COVID-19 has resulted in more suffering to the penny stock as the whole oil and natural gas industry went down due to coronavirus escalations. Low balance sheet has forced the SNDE to file the voluntary petition under Chapter 11 for its restructuring and strengthen of the balance sheet. Individuals interested in this stock need to do a lot of homework before adding it to their portfolio.
