In mid-June, the prices started to rally strongly at Can$29.64 with some minor fluctuations has surged to Can$30.46 on July 5. Nevertheless, since July 8, the company’s price begins dramatically to plunge at almost Can$25.11 by representing 17%. From yesterday the stock is heavily restoring. Ultimately, now that oil prices are finally rising again, giants like Suncor are looking to capitalize. While many large oil companies have abandoned the production of oil sands, those who are focused on technological advances in this area have excellent long-term prospects. And this growth is further enhanced by the fact that it currently looks particularly undervalued compared to its counterparts, especially since lithium, which is present in the Canadian oil sands, is becoming an even more desirable commodity.
Suncor Energy is an energy company that pays great attention to sustainable development. They work hard to ensure that their products in safe, reliable, and sustainable. Because the industry has been changing so swiftly in recent years, keeping up with changes is the key to achievement. Suncor has been leading in this area of innovation and will continue to develop in this direction, delighting all interested parties.