Retail traders pile into energy stocks

Retail traders pile into energy stocks

Retail traders aren’t just buying the dips on popular names like Tesla (TSLA) and Apple (AAPL). They’re also riding the upward wave on energy stocks — especially small US companies in Texas.

Nine Energy was one of the top trending tickers on Yahoo Finance on Tuesday. The stock is up more than 480% over the last 5 days. On Tuesday morning, Nine (NINE) was halted for volatility amid a massive spike following the release of the Houston-based company’s quarterly results.

A U.S. and UK ban on Russian oil imports, coupled with a ‘de facto ban’ on Russian Urals, has been sending crude futures and energy stocks higher. Occidental Petroleum is up 88% year-to-date. The Houston-based energy company backed by Warren Buffett's Berkshire Hathaway (BRK-A, BRK-B) has been one of the top-10 retail-traded names this week according to Nasdaq’s tracker.