https://www.live-feeds.com/feed/penny-stock-bet-on-athabasca-yields-6-500-gain-for-ninepointContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/penny-stock-bet-on-athabasca-yields-6-500-gain-for-ninepointhttps://www.live-feeds.com/feed/penny-stock-bet-on-athabasca-yields-6-500-gain-for-ninepoint#u110452Thu, 08 Oct 2026 10:50:42 +0000Cenovus Energy has reached an agreement to buy Athabasca Oil in a $5.7 billion deal designed to expand production and bulk up on oil sands. The buyout agreement values Athabasca at 12 Canadian dollars per share. This cash-and-stock or acquisition event follows an earlier period of financial pressure for Athabasca, creating a massive payday for early backers. Notably, the Canadian fund Ninepoint secured a 6,500 percent gain from an initial penny-stock investment made during the depths of pandemic-era market downturns.Why it mattersNinepoint previously purchased a nearly 10 percent stake in Atha