Sunoco LP Stock Races Higher: What's Going On?
Portfolio Pulse from Erica Kollmann
Sunoco LP (NYSE:SUN) shares reached a new 52-week high of $51.85 as the price of crude oil continues to rally. The shares are moving higher on heavy trading volume, with more than one million shares traded in the session, compared to the stock's 100-day average of just over 154 thousand shares. Sunoco LP shares are up 8.5% at $51.32 at the time of publication.
September 28, 2023 | 3:27 pm
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Sunoco LP shares are experiencing a significant increase in trading volume and price, reaching a new 52-week high. This is largely due to the ongoing rally in crude oil prices.
The rally in crude oil prices is driving up the price of Sunoco LP shares, as the company is in the oil and gas industry. The increased trading volume indicates a heightened interest in the stock, which could further drive up the price in the short term.
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