Why Veren Inc. (VRN) Went Up on Monday

We recently compiled a list of the 10 Firms Buck Market Bloodbath on Monday. In this article, we are going to take a look at where Veren Inc. (NYSE:VRN) stands against the other stocks.

The stock market suffered a bloodbath anew on Monday, with the Nasdaq plunging to its worst level in three years over concerns about the health of the US economy after the Trump administration acknowledged the possibility of a potential rough patch.

The tech-heavy Nasdaq fell the heaviest, down 4 percent, followed by the S&P 500, which declined by 2.7 percent. The Dow Jones, for its part, dropped by 2.08 percent.

Meanwhile, 10 companies managed to book modest gains, bucking the broader market caution. We have identified the names that led the charge and detailed the reasons behind their performance.

To come up with the list, we considered only the stocks with $2 billion in market capitalization and $5 million in trading volume.

An aerial view of oil and gas rigs in the Gulf Coast of Texas, Louisiana and Florida.

Veren Inc. (NYSE:VRN)

Veren Inc. (NYSE:VRN) jumped by 16.09 percent on Monday to end at $5.7 apiece following news of a $10.43-billion merger deal with Whitecap Resources.

According to reports, the merger would mark the biggest deal in the Canadian oil and gas industry and will see the two firms become the largest landholders in the Montney and Duvernay regions in Alberta.

Additionally, the merger will see a combined capacity of 370,000 barrels of oil equivalent per day.

“We are more resilient and better able to manage the current macro environment, including the ongoing threat of tariffs and commodity price volatility,” Whitecap CEO Grant Fagerheim was quoted as saying in a report by Reuters. The transaction is expected to close in May 2025.

Overall VRN ranks 2nd on our list of Monday’s top gainers. While we acknowledge the potential of VRN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VRN but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.