Bitauto Continues 2015 Struggle

Bitauto Continues 2015 Struggle

Laredo Petroleum Inc. (NYSE:LPI), Denbury Resources Inc. (NYSE:DNR) and Sanchez Energy Corp. (NYSE:SN) are approaching market close with big gains this Monday. Starting off the week in the red are Applied Micro Circuits Corporation (NASDAQ:AMCC), Bitauto Holdings (NYSE:BITA) and Unwired Planet Inc. (NASDAQ:UPIP).

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Rallying Oil Prices Spur Surge for Laredo, Denbury

Laredo Petroleum surged +17.84% today thanks to rallying oil prices. The independent energy company, one of Richard Chilton’s holdings, has declined -54.02% over the past year.


Denbury Resources climbed +11.67%, putting its one-week gain at +14.12%. The stock’s surge is also the result of increasing oil prices. Billionaire Leon Cooperman has held a stake in the firm since early 2010, and Ray Dalio has a DNR position as well.

Sanchez Energy surged +11.04% after providing an update for its fourth quarter and full year 2014 operations and year-end 2014 reserves. An independent exploration and production company, Sanchez has been among George Soros’ holdings since the second quarter of last year. The stock’s price has fallen -58.29% over the past six months.

Bitauto Tumbles

Applied Micro Circuits Corporation tumbled -9.33%, putting its YTD performance at -27.38%. Zacks reaffirmed its neutral rating on the stock just last week. Julian Robertson has had a stake in the firm since the fourth quarter of 2013.

Bitauto Holdings fell -6.42% this Monday, putting its one-month loss at -25.11%. The China-based content and marketing services provider is one of Tiger Global’s major holdings, as the firm holds more than 6.5 million BITA shares.

Unwired Planet dipped -5.76% and is trading about $0.13 away from its 52-week low of $0.80. The intellectual property and technology licensing company has been in George Soros’ portfolio since the second quarter of 2012.


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