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Why Chesapeake Energy Surged On Friday

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Why Chesapeake Energy Surged On Friday

A stock well-known to Robinhood traders who got it as their first 'free stock' when they joined, Chesapeake Energy (NYSE: CHK), has had it's day in the sun.

Why did Chesapeake Energy's price go up so much on Friday?

The answer is probably less interesting than you might expect.

Shares of Chesapeake Energy, along with several other companies, are trading higher amid a gain in oil prices following positive US jobs data and as investors await the OPEC+ conference, hoping for output cuts.

The price action was enough to trigger two trade halts around 2PM ET on Friday.

See the action in Benzinga Pro below:

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