Why These Energy Stocks are Losing This Week

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1. Comstock Resources, Inc. (NYSE:CRK)

Share Price Decline Between June 30 – July 8: 16.44%

Topping our list of Energy Stocks that Lost the Most This Week is Comstock Resources, Inc. (NYSE:CRK), a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas.

Comstock Resources, Inc. (NYSE:CRK) skyrocketed to a 10-year high last month after the analysts at Wolfe Research upgraded the stock from ‘Peer Perform’ to ‘Outperform’ and raised its price target to $34. So the recent downturn could be due to investors booking their profits following an impressive rally.

Moreover, Comstock Resources, Inc. (NYSE:CRK) came under pressure following a decline in the price of natural gas, with US natural gas futures dropping by over 22% since June 19 due to rising supply and strong storage levels.

Despite the downturn, the share price of Comstock Resources, Inc. (NYSE:CRK) has surged by more than 118% over the last year.

While we acknowledge the potential of CRK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRK and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and The 5 Energy Stocks Billionaires are Quietly Piling Into.

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