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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