The Origin Energy Ltd (ASX: ORG) share price weakened in afternoon trade, finishing the day down 2.44% to $4.80.
It comes amid reports the energy giant has decided to cancel its investor day, which was scheduled for next month.
While a formal announcement has not been made by Origin, the news might be sparking some questions.
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Sparking speculation
Investors put downwards pressure on the Origin Energy share price today. This is despite there being no announcements posted by the S&P/ASX 200 Index (ASX: XJO) energy company.
However, The Australian has suggested Origin Energy has cancelled its upcoming investor day. As a result, onlookers could be wondering what would prompt such action. One query, in particular, is whether there could be a major shift in strategy planned.
For example, some market participants are asking if Origin could be on the table for another big oil and gas deal. This comes at a time when megadeals are being executed left, right, and centre.
Examples of these include the $23 billion merger of Oil Search Ltd (ASX: OSH) and Santos Ltd (ASX: STO). Another is Woodside Petroleum Limited (ASX: WPL) and the oil assets of BHP Group Ltd (ASX: BHP).
Specifically, some investors are wondering whether the company could be mulling the sale of its energy retail business. Any sale would be eyebrow-raising considering it was only last month the company executed an agreement to sell a 10% interest in Australia Pacific LNG worth $2.12 billion.
Origin Energy share price snapshot
While the Origin Energy share price has diverted a negative return in 2021 so far, it is still less than spectacular. Having gained 0.5% since the year commenced, Origin shares are underperforming the benchmark index by around 8%.
Unlike many other ASX-listed shares, the Origin Energy share price is still a long way off its pre-COVID levels. Prior to the market crash in March 2020, the energy retailer was fetching a price of around $8.74.
Finally, the company currently holds a market capitalisation of $8.56 billion.
