Thursday, June 10, 2010

BP Shares Slip with Bankruptcy Rumors: Others Say Stock is Up

Yesterday I wrote about BP's latest bad mark for BlogHer.com that considers BP's corporate character. At the end there, I link to stories that detail the company's history of safety issues before the Gulf of Mexico crisis.

In the background for a couple of days I've been hearing that British Petroleum's stock is taking a dive. At ABC, a story with video says "BP Shares Sink Amid Oil Spill Bankruptcy Chatter." However, the The Street says:
After trading down to a 14-year low on Wednesday on fears of a BP bankruptcy, BP shares are showing life early on Thursday, spiking by 11% in trading. Trading in BP shares surpassed its ever-increasing average daily volume within an hour of the market open.
It's important to remember that too much talk of bankruptcy around a company may push it over the edge.

Below these two videos I have links to other stories about BP's dip.



An MSNBC story says the stock's been plummeting since President Barack Obama began talking about lifting the liability cap on potential damages.

Visit msnbc.com for breaking news, world news, and news about the economy


More on BP's Stock Troubles:
  • MSNBC: "As spill costs mount, BP shares tumble anew"
  • Time: "Is BP Headed for Bankruptcy?"
  • New York Times: "As Pressure Rises, BP Tries to Reassure Investors"
  • The Guardian, UK: "Has U.S. bloodlust for BP gone too far?"

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