Q: CPX has been very volatile recently with multiple trading days of +/5% swings. What is the cause?
5i Research Answer:
CPX is up 60% for the year, and at year end there can be extra volatility as investors adjust positions and/or funds do year end portfolio windown dressing. But CPX also did a $460M stock offering this week, which heightened volatility. It was rated new BUY at Jeffries, which also could have created trading interest.