Chevron gapped up big, up at $74.99, it hit a quick high of $75.00, and then sold off. Chevron tried to hold support at $72.50 to $72.60 but after 3:15 it couldn’t hold. At 3:25 it went negative and ended up closing down $2.10 (-2.9%). A drop of 2.9% doesn’t sound catastrophic, not until you consider that this was down 6.7% from its high of the day. Chevron is now down about 46% from its 52-week high, and its average volume of 8.7 million shares was more than doubled as 19.1 million shares traded hands. When a stock loses 50% it then has to then double to get back it's losses. The market cap is soon to break below 130 Billion as much as it spent on capital the last 4 years. The break up of Chevrons assets is worth more now, than they are now tied to a corporation. And it can only get worse with Gorgon and Wheatstone.
4 replies (most recent on top)
Finance BS? I don't think there is anything wrong about being informed about what the CVX stock price is doing/or the price of WTI
Anonymous142074, connecting the dots is not your strong suit. How long have worked at Gorgon?
yeah trust me the investment community... particularly the shorts are frequenting this board..... all adds fuel to the fire.
just super lucky we sold @ 130 this past summer..... all due to dumb luck timing - rebalance portfolio........ it pays to be lucky sometimes.
Get out of here with your finance BS! People are here talking about layoffs not stocks. Go post on finviz.com!