Macro Finance
Ninepoint’s Athabasca Bet Delivers 6,500% Gain on Cenovus Oil Merger Deal
Bloomberg Markets·October 5, 2026·1 min read
Ninepoint Partners LP's early 2021 purchase of a nearly 10% stake in Athabasca Oil Corp. delivered a 6,500% gain on the Cenovus Oil merger deal. At the time, crude traded around $50 a barrel and Athabasca shares had plunged into penny-stock territory, making the bet a massive success.
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