What's Going On With Transocean (RIG) Stock?
Portfolio Pulse from Erica Kollmann
Transocean Ltd. (RIG) shares continue to rise, marking an upward trend over the last five trading sessions. The stock has seen a volatile June, with a 14% increase over the last 30 days. The company recently announced a $184 million award for the Transocean Equinox in Australia, which could extend its operations there until 2028. RIG is popular among retail investors and is a top trending ticker on StockTwits. Over 19.9% of available shares are being sold short.
July 03, 2023 | 2:41 pm
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Transocean's stock is on an upward trend, with a 14% increase over the last 30 days. The company's recent $184 million award for operations in Australia until 2028 and its popularity among retail investors could continue to drive its stock price.
The upward trend in Transocean's stock price can be attributed to its recent $184 million award for operations in Australia until 2028. This, coupled with its popularity among retail investors, could continue to drive its stock price. However, the high short interest in the stock indicates that some investors are betting on a price decline, which could introduce volatility.
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