<Since the beginning of 2021, Suncor has reduced net debt by $3.1 billion and repurchased $1.7 billion of its common shares since the start of its normal course issuer bid program (NCIB) in February 2021, representing approximately 63 million common shares at an average price of $26.39 per common share, or the equivalent of 4.1% of Suncor’s issued and outstanding common shares as at January 31, 2021. The company is on track to exceed its previously communicated debt reduction and share repurchase targets for the year.>
Wow, just shows all the pressure for funds to sell SU shares this year. I know, looking in the rear view mirror, but that is substantial selling pressure. I sold my traders and moved on, but a bit bummed about the skepticism.
We should come to expect this, I hate to say.