What: Chart Industries stock was up almost 10% on Feb. 3 -- at least as of this writing -- on pretty heavy early trading activity.
So what:There's not any material news to support the jump, but crude oil futures are up around 3% Tuesday -- the third day in a row we've seen gains -- a good sign for Chart's prospects, which are at least partly based on the "spread" between cheap natural gas and more expensive gasoline and diesel. However, oil remains near its lowest price in years, and is expected to remain down for at least the first half of 2015.
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Chances are, considering that Chart's market capitalization has fallen to less than $1 billion, a few large buys can have a market-moving effect on the share price. With no "real" news about the company as a driver, it's likely that a few large transactions, and the continued march up of oil prices, are playing a role in Tuesday's rebound.
Now what:At the end of the day, no news is no news. Chalk this up as yet another reminder that the market -- in the short-term -- is driven by speculation and people, and not always by something that's material to a company. Chart is set to report financial results for the fourth quarter and full-year 2014 on Feb. 4.
The article Chart Industries Stock up 10% on Zero News originally appeared on Fool.com.
Jason Hall has no position in any stocks mentioned. The Motley Fool recommends Chart Industries. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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