Thread: BP Stock?

So what is the consensus about buying this stock. It is down from mid 60's and paying 11% yield. Do you think it will drop more? There are rumors that this oil spill could drive it into bk, is that likely?

was wondering the same thing today. too risky.

Like most looking for a possible deal, this one looks appealing at first sight. However I wouldn't rule out BP going down further. I'm not sure they can fail all together, as they would probably be bought by someone else first. But who knows what their bottom is, and when they become "cheap" to a suitor.

straight gamble - are you feeling lucky?

- chuck

Originally Posted by carendt242

straight gamble - are you feeling lucky?

- chuck

Kinda! I'm thinking there might be more downside in this stock.
I am waiting for it come down to low 20's and buy some.

Originally Posted by HPP

Like most looking for a possible deal, this one looks appealing at first sight. However I wouldn't rule out BP going down further. I'm not sure they can fail all together, as they would probably be bought by someone else first. But who knows what their bottom is, and when they become "cheap" to a suitor.

not sure about the rumors of an exxon or royal dutch buyout, but bp has enough reserves (imho) to ride this out. everything is relative, right? if you can, buy & sit. if it breaks even more, buy more! you thought it was cheap at $28.90, wont you feel like a shmuck for missing out of the 18.90 level? errr...maybe not.

For those talk about bankruptcy, BP is way too large of a company to go that route. The chances of that happening are very very slim.

Interesting article on the possibility of a takeover: How Likely Is a BP Takeover Bid? -- Seeking Alpha

Originally Posted by Des Jr.

For those talk about bankruptcy, BP is way too large of a company to go that route. The chances of that happening are very very slim.

no, they're not; and they just might prefer to go that route to deal w/ a lot of crap.

- chuck

Originally Posted by carendt242

no, they're not; and they just might prefer to go that route to deal w/ a lot of crap.

- chuck

Exactly! In fact due to the overwhelming long term costs of this it could be highly appealing them to file BK, which first and foremost will shaft stockholders.

It could rebound and rally hard, or it could plummet to $0. The far reaching fingers of this disaster will be bad news.

Anyone checked up on companies that used to make Asbestos, even the companies that used/sold/installed the product. The trail of BK that followed that mess was astounding.