One Company You Should Avoid on the Road to Recovery

You are receiving this as a part of your subscription to Profit Pregame. To remove your email from this list, [unsubscribe here](. [Profit Pregame] [99.99% of Investors Could Miss This]( A [strange, stunning phenomenon]( is unraveling in the crypto market, and not many are paying attention. Most likely because it has nothing to do with Bitcoin. As a result, [these coins]( have skyrocketed even higher. One shot up 780% higher than BTC in only 31 days. Tuesday's brand-new trade could be the biggest yet. [Go here now](. [Not the Start the Oil Industry Was Looking For...]( Over the last few weeks, I've highlighted a few of the reasons why the energy sector - oil in particular - is poised for a huge comeback over the course of this year and beyond. But for one company one particular, that recovery has gotten off on the wrong foot. Shares of Exxon Mobil Corporation (XOM) traded down sharply on Friday as news broke that the Securities and Exchange Commission (SEC) is undertaking an investigation into whether an Exxon employee overstating the value of one of its Permian Basin assets. Allegedly, workers were forced to use unrealistic assumptions about how quickly wells could be drilled to reach a higher valuation. The SEC requires that oil companies report with reasonable certainty the amount of reserves in its wells. The Wall Street Journal reported that at least one of the employees that complained was fired in 2020. While I still like the prospects of the oil industry as a whole, Exxon Mobil will be one stock I'll be staying far away from until we know with more certainty whether the SEC will take any punitive actions against the oil giant. Trading tip of the week Over the last few weeks, I've highlighted a few of the reasons why the energy sector - oil in particular - is poised for a huge comeback over the course of this year and beyond. But for one company one particular, that recovery has gotten off on the wrong foot. Shares of Exxon Mobil Corporation (XOM) traded down sharply on Friday as news broke that the Securities and Exchange Commission (SEC) is undertaking an investigation into whether an Exxon employee overstating the value of one of its Permian Basin assets. Allegedly, workers were forced to use unrealistic assumptions about how quickly wells could be drilled to reach a higher valuation. The SEC requires that oil companies report with reasonable certainty the amount of reserves in its wells. The Wall Street Journal reported that at least one of the employees that complained was fired in 2020. While I still like the prospects of the oil industry as a whole, Exxon Mobil will be one stock I'll be staying far away from until we know with more certainty whether the SEC will take any punitive actions against the oil giant. Earnings report to watch Last week saw some really positive earnings beats from both Citigroup Inc. (C) and JPMorgan Chase & Co. (JPM), which could bode well for another well-run bank that reports this week. Bank of America Corporation (BAC) is scheduled to deliver its Q4 2020 earnings report on Tuesday January 19 before the open. BAC will not only be a big beneficiary of the broader economic recovery that we've discussed here before, but also would stand to add a huge amount of revenue to its balance sheet with even a small increase in interest rates in 2021. But despite the positive outlook, banking stocks opened mostly down on Friday. BAC started the day off over 3% from its Thursday high, potentially offering a discounted buying position on a stock with great potential. This Thursday - The 1600 Success Summit 1,600 Americans become millionaires every day... and not by winning the lottery or striking gold. Most of these people do it all on their own, and I think it's time you join them. This Thursday, January 21st at 1:00 p.m. EST, my friend and colleague Abe Wagner is hosting the [1600 Success Summit]( to show you the truth and dispel the lies you've been told about building wealth. [Click here]( to secure your seat, as spots are filling up fast. Please do not reply to this email. It was sent from an unmonitored mailbox. You are receiving this e-mail at {EMAIL}, as part of your subscription to Profit Pregame. To remove your email from this list: [unsubscribe here](. 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