After a five day winning streak, BP (NYSE:BP) stocks price is dropping again. The decline is said to be because of the delayed testing that would tell if the sealing cap that has been installed is successful.
BP's shares fell 2.3 percent, while their American depository shares saw a 2.1 percent plummet to $36.12. That's its second day straight being in the red. Even after the decline seen on Tuesday and Wednesday, for the week the stock is up 6 percent.
After hitting a 14 year low last month, they are still up 35 percent. While their shares are still down 40 percent from before the explosion and sinking of the Deepwater Horizon. The cost to insure BP debt has increased, from $321,000 as of Tuesdays close to $355,000 annually.
BP's senior vice president, Kent Wells said they have temporarily stopped drilling of the relief well, which will set back the completion by a "couple days."
Showing posts with label Stocks Price. Show all posts
Showing posts with label Stocks Price. Show all posts
Thursday, July 15, 2010
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