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In case you are worried about that stock certificate from BP that Aunt Martha left you:

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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-31-10 08:51 PM
Original message
In case you are worried about that stock certificate from BP that Aunt Martha left you:
Edited on Mon May-31-10 08:53 PM by truedelphi
Sources say that:

The markets on Wednesday, May 5th, 2010, signaled their confidence that a deal will be worked out to protect BP, with its share values increasing by 1.5 percent and a London financial analysis firm upgrading its stocks to "buy."
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-31-10 08:57 PM
Response to Original message
1. Imagine how much they would be worth if they let all their wells leak everywhere
Wall Street has been complaining since 2001 that the little investors stopped putting money in, but they dont seem to understand the average person sees them upgrading a company's stock after creating the largest ecological disaster in history as so counter to logic it proves how counterintuitive and rigged the markets have become.

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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-31-10 08:57 PM
Response to Original message
2. BP's stock has dropped nearly 40% since April 20th.... the market is speaking loudly against BP
Edited on Mon May-31-10 08:57 PM by scheming daemons
...
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-31-10 10:10 PM
Response to Reply #2
4. Thank you for that update.
Wish that fate was affecting the oil executives in terms of them doing jail time.

I never find much solace in stock prices dropping, as people inside of pension funds have little or no control, usually, over where their money managers put their pension monies.

But I do enjoy thinking about any pain that the executives at BP might suffer.
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AngryOldDem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-01-10 06:40 AM
Response to Reply #2
8. Heard this morning it's at its lowest point in 18 years. n/t
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undeterred Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-31-10 08:57 PM
Response to Original message
3. I wish BP could have worked out a deal to protect the Gulf.
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USArmyParatrooper Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-31-10 10:15 PM
Response to Original message
5. They're still waaay down
Edited on Mon May-31-10 10:15 PM by USArmyParatrooper
I own stocks, and I wouldn't touch BP shares right now. There are far too many unknowns, including a legislation which would substantially (and rightfully) increase their liability cap.

They need to take a HUUUUGE financial hit to send a message to all the drillers out there. The only thing they listen to is their wallet.
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proud2BlibKansan Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-01-10 06:43 AM
Response to Reply #5
9. I own stocks too and I wouldn't EVER buy BP
I don't buy stocks from evil companies that trash the planet or feed the military industrial complex.
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TexasObserver Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-31-10 10:16 PM
Response to Original message
6. BP stock has lost 10% of its value since May 5th.
Anyone who thinks the slide of BP stock is over hasn't grasped the situation. The worst is yet to come for BP stock.
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muriel_volestrangler Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-01-10 06:05 AM
Response to Original message
7. Lost more than 15% this morning on the London stock market
http://news.bbc.co.uk/1/hi/business/10202162.stm

Now lowest since March 2009. Down about 25% since May 5th.
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KharmaTrain Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-01-10 06:46 AM
Response to Original message
10. BP Stocks Are Toxic...
Sure...there'll be daytraders who will ride the dead cat bounces but the overall picture for Big Polluters has been bad since this disaster has begun. Their stock price is still 25% or more off what it was and the longer this situation endures the lower it will go. No one wants to buy into the massive amounts that will be spent on the clean-up (BP has admitted its already paid out close to $1 billion) and all those profits of the past will be soaked up for quite some time. Not to mention the bad will BP has spread...from their callous and criminal actions that led to the blowout, their attempting to downplay and hide the true details of the spill/damage and their lame attempts at cleaning up. This is a "vote of confidence" from the invstors that will have a big impact on BP's future if the downslide continues.
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TexasObserver Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-01-10 10:06 AM
Response to Original message
11. BP is at 38 right now. It's dropped from 52 a month ago.
Edited on Tue Jun-01-10 10:25 AM by TexasObserver
It was at about 60 when the gusher started, so it has lost almost 40% of its value since that date.

You may recall one poster bragging a month ago about buying at 52 a share, and how that was a good price because BP really wasn't going to lose that much money. That poster has lost 27% of their investment, in barely 30 days.

This could easily wipe out another 20% of BP's value.
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