Insights

Strike Energy (ASX:STX) share price tumbles 3%, hits new 52-week low

Here’s the latest news from Strike Energy.
The post Strike Energy (ASX:STX) share price tumbles 3%, hits new 52-week low appeared first on The Motley Fool Australia. –

The Strike Energy Ltd (ASX: STX) share price plummeted today, hitting a new 52-week low in intraday trade.

Interestingly, the dip comes despite no price sensitive news being released by the company. However, it did inform the market its deputy chair will face court in Western Australia over an alleged quarantine breach.

As of Monday’s close, the Strike share price is 17 cents, 2.86% lower than its previous close.

Earlier today, the company’s stock plunged to a new 12-month low of 16.5 cents, representing a single-day drop of 5.7%.

Making the dip even more noteworthy is the fact many of the company’s peers surged higher. While Strike isn’t on the S&P/ASX 200 Energy Index (ASX: ZEJ), it’s worth noting the index gained 2.7% on Monday.

Let’s take a closer look at the non-price sensitive news released by the oil and gas explorer today.  

Strike Energy share price slides amid border drama

The Strike Energy share price fell today after the company’s deputy chair, Neville Power, was summoned to appear in court.

The company stated Power will face court for a matter relating to Western Australia’s quarantine laws.

According to ABC News, Power and another man failed to complete a G2G Pass before travelling into Western Australia. A G2G Pass is is a measurement to help the Western Australia Police Force manage COVID-19 travel directions.

The two men allegedly helicoptered to Exmouth from Queensland. They then reportedly continued to Perth’s Jandakot Airport, stopping at Carnarvon and Geraldton for fuel.

In addition to his role as deputy chair of Strike Energy, Power is chair of Perth Airport and the Royal Flying Doctor Service.

Power also chaired the National COVID-19 Coordination Commission, a body designed to minimise the impact of COVID-19 on jobs and business and ready the country for a speedy recovery.

Strike Energy stated Power will continue his duties as a director of the company.

The post Strike Energy (ASX:STX) share price tumbles 3%, hits new 52-week low appeared first on The Motley Fool Australia.

Should you invest $1,000 in Strike Energy right now?

Before you consider Strike Energy, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Strike Energy wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why Ansell, Predictive Discovery, Strike Energy, & Zip shares are sinking

Why Afterpay, Platinum, Star, & Strike Energy shares are sinking

Why the Strike Energy (ASX:STX) share price is down 10% this morning

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!