BP Share Price went down just a day after the Company’s CEO Tony Hayward announced that he will be stepping down. Even though there had been an early positive trend in the share price because of the heavily criticised CEO stepping down and company being successfully able to plug the leak – the shares went down, after the company reported heavy losses in its business. Many had expected that the company will be reporting profit for the year despite the problems the company had faced due to the Gulf of Mexico Oil Spill.
BP reported losses in its quarterly results, The company has reported losses in billions of dollars for the second quarter. The company had previously reported a huge profit in the previous year.
Many stockholders believe that the prices of the company’s share are under their original value because of the crisis. Though this might be true to a certain extent but due to big losses the company has reported in the quarter it will take the company a long time in order to recover.
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Posted in: Business | Tags: bp, price, share
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