Why are shares of the ETF USO trading so low vs crude oil, compared to 2008.
Let me explain:
In late 2008 I bought 20 shares of USO for $67.00 and Crude was trading at $90.00.
Today USO is trading around $33 and Crude is trading back up to around $90. This means USO is trading at half what is was in 2008.
This make no sense to me. My USO shares are down over 50% and Oil is trading where it was when I bought the shares of USO in 2008. Price at the pump is even higher.
Can anyone explain this?
Let me explain:
In late 2008 I bought 20 shares of USO for $67.00 and Crude was trading at $90.00.
Today USO is trading around $33 and Crude is trading back up to around $90. This means USO is trading at half what is was in 2008.
This make no sense to me. My USO shares are down over 50% and Oil is trading where it was when I bought the shares of USO in 2008. Price at the pump is even higher.
Can anyone explain this?