Am I missing some news other than election results that would cause the price to tumble over$1 per share? Anybody? I thought the qtrly report was good & there seemed to be a validated reason for the recently announced change in management.
One other possible negative that happened. Democrats may now have a supermajority in California (a couple races have not yet been decided). So, they would be able to increase any tax they want.
Prop 30 raised taxes, but it won't be enough to feed the machine. For years they have wanted a oil production tax, and that may now be more likely. Sure to hit BBEP cashflow, but not sure how much.
Last night's victory for the President marks the first time since its inception that Obamacare is no longer a what-if; it is the future of health care in America.
It also means a near immediate impact on the economy. With 20 or so new or higher taxes set to be implemented, ranging from a $123 billion surtax on investment income, through the $20 billion medical device tax, all the way down to the $600 million executive compensation limit, Obamacare will be a nearly unbearable tax burden on the economy.
Just general market nervousness, esp re energy stocks. CHK is 17 and change F.I. When the stupid selling stops I think BBEP will recover nicely. I bot another 1k shs at 18.73 today--now hold 15k.
I think you'll capture the distribution nicely but you must remember that these idiots have NO energy policy at all. Obama may kill coal but rather than using CNG (fracking scares him) he'll come up with greener ideas that won't work. CNG will find it's own footing despite Obama.
Did you not notice the entire MLP sector and the overall market was down similarly, that oil was down 4% and the dollar up strongly.
Are you reading the BBEP report looking for the cause of the drop in the entire stock market and the commodity sector? You think BBEP is that influential a company?