Sable Offshore Experiences a Significant Positive Catalyst – Insider Weekends

Sable Offshore Corp (SOC): $21.82

Market Cap: $1.41B

Enterprise Value: $2.09B

Back in May, we wrote an Insider Weekends article about a very interesting offshore oil production company that saw its CEO purchase approximately $1.37 million worth of shares. That company was Sable Offshore (SOC), and just a few months prior, it had gone public after completing its business combination with the blank check company Flame Acquisition Corp.

We typically avoid SPACs, dismissing most as “science-project” companies that were unable to go public through a traditional IPO. However, there are a few SPACs that manage to rise above their pre-business combination price of $10 per share like the bowling alley and entertainment centers company Bowlero (BOWL). The first time we wrote about Sable Offshore, the company had already risen above the SPAC price of $10 per share and was trading at around $14 per share.

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