If the post-pandemic market cycle has taught us anything, it’s that bidding up speculative entities in the hopes of even greater momentum can be an effective tactic – so long as you know when to fold ‘em. Looking at some of the original meme stocks, it’s clear that this conventional piece of wisdom continues to ring true. Thus, for sustainable returns, one might consider fundamentally underappreciated enterprises like Phillips 66 (PSX).
Just by mentioning the hydrocarbon energy specialist, PSX stock is liable to elicit groans from the retail investor community. If you want to talk about the fundamentals, the narrative for the underlying crude oil market admittedly appears poor. Case in point is the OPEC+ production cut that launched in early April of this year. On paper, this news item should have spiked demand for crude oil. It did but “black gold” eventually slipped again.
