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After three brutal months for bullish investors, it looks like BP could tag its 2003 lows. What's next for for this stock? Is it a long term bargain here, a short term bounce or is it toast? Any thoughts?
► BP Shares' Losses Top $100 Billion (WSJ paywall)
BP PLC shares dropped as much as 9% in London on Friday, putting the
drop the oil major's market capitalization at more than $100 billion
since the Gulf of Mexico oil spill began, as an analyst suggested the
company needs to sell stock to assure counterparties of its financial
health.As U.S.-listed BP shares dropped more than 3% in early
trading, the hit to its market capitalization since April 20 grew to
roughly $102 billion as the oil giant plumbed a fresh 14-year low.
