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Cenovus Energy Inc. (CVE)
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Q: Do you know what is going on with this stock? It can't seem to hold? Thx James

Asked by JAMES on September 12, 2024

5i Research Answer:

CVE was impacted by the rail strike, but there has been no major news. The sector has seen a big rollover, with oil declining sharply on recession, China and OPEC news. There has been no negative material news. The stock is very cheap at 8X earnings, but has declined 15 of the last 18 trading days.

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