Penny-Stock Bet on Athabasca Yields 6,500% Gain for Ninepoint

Ninepoint Partners LP’s early-2021 bet on Athabasca Oil Corp. has reportedly delivered a 6,500% gain after buying a stake of nearly 10% when crude traded around $50 a barrel. At the time, Athabasca—descrito como un productor de crudo altamente apalancado—se encontraba en territorio de “penny stock,” mientras el mercado dudaba sobre su capacidad para refinanciar la deuda. The brief item frames the move as a contrarian entry during a period of stress for the company’s finances. It does not provide additional figures, dates beyond early 2021, or further details on how the position was managed, but the headline takeaway is the magnitude of the return relative to the initial purchase price environment.