More Proof That Sector Matters for Stock Gains
In the stock market, as in life, it's better to be lucky than right. One of the biggest frustrations and misunderstandings by investors is the belief that a stock moves based solely on the direct results of the individual company. In reality, a lot of stock gains are based on the sector, and Weatherford International (NYSE: WFT ) probably proves that theory better than any large-cap stock.
Weatherford is one of the largest oilfield services firms in the world. The company has constantly struggled with accounting issues, contract overruns, and just plain bad management. The stock, though, currently sits at near two-year highs despite all the internal drama.
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