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Oil Merger Turns Ninepoint’s Risky Athabasca Bet Into 6,500% Windfall
Source: Bloomberg
Company FundamentalsCommodities & Raw Materials
Ninepoint Partners LP bought a nearly 10% stake in Athabasca Oil Corp. in early 2021, when crude traded around $50 a barrel. At the time, the overleveraged producer's shares had fallen into penny-stock territory.
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