of course if you buy BP now you are a fool, but wait a month or so. Wait till the hole has been plugged. If you do not think this is not going to shoot back up you are a fool. Look at Ford, Bank of America, etc. Once the economy started recovering those stocks shot back up. What do you think will happen to BP?
Wait a month or so I BET THIS STOCK WILL BE BACK IN THE 50s.
STRONG BUY in about a month or two.
Wrong. This catastrophe will ultimately bankrupt BP. The spill is going to make it's way up the eastern seaboard and there is nothing they can do to stop it. When the hurricanes hit, that massive slick floating in the Gulf will all end up on shore. The relief well is a very low probability of success ("hitting a target the size of a dinner plate 2 miles down"), which means the leak is likely to continue unabated for many months, possibly until the well runs dry.
The lawsuits will be epic and will ultimately force BP into bankruptcy. Only a fool would buy this stock.
This is far different than Ford and BOA. BP is going to see lawsuits left and right over this. The Fishing Industry is going to get hit as well as resort areas.
It's a public relations nightmare right now and the full effects haven't even hit yet. Each day you read... BP tried THIS, and it didn't work.
I feel bad for BP's employees right now. BP could be facing Chapter 11 in a year from now.
did i say now. i said in a few months once this is settled. once again only a fool would buy it now. but if it gets into the 20s you would be so stupid not to buy this.
once again i can name so many stocks that were beaten up last year. stocks in WORSE shape than this and they did a total 180.