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 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.

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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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