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BP loses $70 Billion in stock shares

Discussion in 'Political Discussion' started by reflexblue, Jun 1, 2010.

  1. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    70 Billion in stock losses.......


    NEW YORK (CNNMoney.com) --
    BP shares sank nearly 15% Tuesday after the company's latest attempt to seal the leaking Gulf oil well failed over the weekend. The selloff accelerated just before the closing bell, when U.S. Attorney General Eric Holder announced a criminal probe into the spill.

    Since the accident happened April 20, which resulted in 11 deaths and an oil leak of up to 19,000 barrels per day, BP shares have fallen nearly 40%, wiping out nearly $70 billion in shareholder value. Before the accident the company had a market capitalization of nearly $183 billion. Now it's just below $115 billion.
     
    Last edited: Jun 1, 2010
  2. cupofjoe1962

    cupofjoe1962 In the Starting Line-Up

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    If I ran out of gas, I would walk 10 mles past a BP station to the next station that wasn't named BP.

    Time for a boycott of BP !
     
  3. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    BP brands include:

    Castrol
    Arco
    Aral
    am/pm
    Amoco
    Wild Bean Cafe
    Safeway gas
     
  4. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    Thanks for the info...all dead to me.

    How do I boycot the government?
     
  5. alvinnf

    alvinnf In the Starting Line-Up

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    Buy low, sell high. Anybody ever heard of Exxon?
     
  6. Leave No Doubt

    Leave No Doubt PatsFans.com Supporter PatsFans.com Supporter

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