$LGCY It can be painful to watch a company’s share price decline, especially at a time when it should be rising because of the reduction of risk (due to reduced leverage) and rising energy prices. More likely than not, oil prices will rise from here for the next 12 to 18 months, but even if they stay where they are, shares of Legacy are unreasonably cheap. As such, bulls in the business should consider buying on the dips, and bears who have benefited from the downside should note that they are facing some meaningful risk since a rebound is becoming increasingly probable.
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