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My mother is holding quite alot of BP stock so I felt I should research to see if she should dump it.
I looked at Exxon's stock prices before and after the Valdez spill of 1989 and the spill didn't effect the progress upward much at all.
Some say BP is handling the PR end of the debacle better then Exxon did, but BP's screw-up looks to me more dire. So maybe it's a wash.
Bottom line, I think I'll tell mom to hold cuz big oil companies are just soooooo profitable that even causing a horrible event like this, which affects virtually everyone, it is but a mere hiccup.
Anyone with investment expertise care to comment?
Ever heard of Buy Low and Sell High... let me get this right, you want to sell when its low? Okay... maybe you shouldn't dispense investing advice to your mom...
Too dangerous to short this stock. As soon as they manage to cap this leak, the stock will pull a major pop as soon as the news breaks, and it could happen any time leaving you very little chance to cover. Short it if you want, but do so at your own peril. Personally, I've set a buy price of $41 - if it gets that low I'll buy a boatload of it. Good luck everyone!
BP still faces a lot of uncertainty. If she needs the money within a year, sell it now. If she can hold it for a few years, keep it. I think it will go down more in the short run, but long run it will recover. I made some money with put options, but got rid of it to early.
Just bought Transocean stock. Their stock fell much harder than BP yet they are a more fundamentally sound company. Also their liability is limited with BP stuck footing much of the bill. Anything Transocean has to pay is getting picked up by insurance.
Just bought Transocean stock. Their stock fell much harder than BP yet they are a more fundamentally sound company. Also their liability is limited with BP stuck footing much of the bill. Anything Transocean has to pay is getting picked up by insurance.
That may change as the liability caps are razed, maybe to unlimited . Someone will pay and BP will make sure they are not alone. There are already thousands of class actions in the works, more comming. criminal actions will have a greater effect on BP and their buddies than any settlements...watch and see.....
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