ERHC Energy Inc (ERHE)

[Julius Erving]

A nice read for the Shorters:

https://oilprice.com/Energy/Energy-General/The-Big-Shale-Short-Twitter-Traders-Make-Millions-On-The-Oil-Price-Crash.html

A bunch of petroleum engineers and traders, banded under the Energy FinTwit (#EFT) hashtag, have expressed for years their bearish views about U.S. shale. They have been shorting U.S. energy stocks for months. And the oil price collapse made them millions.

Lol, I guess the ERHC shorters picked the wrong company...

At the time when the EFT group said Whiting Petroleum was worth nothing, Goldman Sachs was saying go long on fracking, with the assumption that the decline in U.S. shale growth is just a temporary blip, and it could take a year or two before the stalled growth brings the market back into balance for prices to rise.

LOL:

The Million-Dollar Payoffs

Some of those traders made millions off the price crash in early March.

BRV @WillRayValentin, for example, told Reuters he made US$4 million in the week March 9-16, when oil prices collapsed in the wake of the OPEC+ break-up and the start of Saudi Arabia’s price war for market share.

“It was like picking money up off the street,” BRV told Reuters on the phone.

“I’m probably short every stock I mention,” BRV’s Twitter profile reads.

This is what the ERHC shorters had in mind, but unfortunately for them it did not go as they expected...