Energy

BP Takes Out New 52-Week and Multi-Year Lows (BP)

BP plc (NYSE: BP) gave  another black eye to shareholders.  All the bottom fishers are finding out that they are really just bottom sniffers.  BP’s ADRs hit new 52-week lows today and shares are currently under the $29.00 mark.  Today’s…

By Jon C. Ogg
Published June 24, 2010, 2:11pm ET · 1 min read

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BP plc (NYSE: BP) gave  another black eye to shareholders.  All the bottom fishers are finding out that they are really just bottom sniffers.  BP’s ADRs hit new 52-week lows today and shares are currently under the $29.00 mark.  Today’s trading range is $28.84 to $30.00 versus a prior 52-week trading range of $29.00 to $62.38. Over at the London Stock Exchange, where they drive on the wrong side of the road,  BP’s ordinary shares closed at 325.25 with an intra-day low of 324.10.  The prior 52-week range was 328.40 to 658.20.

Back in the U.S., with prices NOT adjusted for dividends, it looks like you have to go back to 1996 and two stock splits ago to get here on a nominal basis for the ADRs.

(posted without comment, from Tony Hayward’s yacht race)

JON C. OGG

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Jon C. Ogg

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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