MEG Energy (MEG.TO) Stock In The Same Point As A Month Ago: Sing Of A Collapse?

MEG Energy trades were unsteady over the last five days. On July 6, the value of the stock was at Can$9.11; then, it slowly declined by 3%; following this, the stock has established to decrease. As shown on July 8, the stock has dropped to Can$8.11; on July 9 has recovered to Can$8.85. Meanwhile, the company’s stock stays in the same place at around Can$8.70 with some fluctuations.MEG Energy Corp. is pleased to announce that each of the ten (10) nominees mentioned in its Management Information Circular dated May 3, 2021, were elected as directors at its annual meeting of shareholders on June 16, 2021 (the “Meeting”). MEG’s shareholders approved the other agenda items at the meeting, including the appointment of auditors and the advisory vote on executive remuneration, in addition to the voting results for the Board of Directors.

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MEG is an energy business specializing in long-term in situ thermal oil production in Alberta’s southern Athabasca oil area. MEG is working on new enhanced oil recovery projects that use steam-assisted gravity drainage (SAGD) extraction technologies to boost responsible oil recovery and reduce carbon emissions. MEG transports and sells its thermal oil (AWB) to refineries all across North America and the world.

Jack Dawkins

Finance and Tech Contributor

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