Soldato
I need to bail on BP asap....
the CEO or whoever is a moron, just constant decisions that tank the share price
sacks all the people who were geologists etc that can find oil.
didn't want to go green fast enough, shell are beating them so the shares take a massive dip.
now BP starts selling off more oil assets and takes another dip...
he needs to make his mind up, you can't start selling all the oil and gas stuff if your not making up for it going green....
Yehhh, BP were doing well until about 10days ago, now they are just eating **** everyday. That said, surely there's no point selling and losing money. Assuming your average isn't huge, the price will recover to a break even at some point unless you're thinking there is some huge drop coming and you'll rebuy after this huge drop.
Hopefully there isn't a huge drop coming (apart from today will be the only thing I can see which will give a big swing, could go up?) so I can't see it being worth selling now.
The dip in price is from oil price dropping slightly, BlackRock announcing they're not going to invest in any company who hasn't got good green credentials and the earnings report due today.
As confidence grows in the next couple of weeks over lockdown lifting and the earnings report, whatever it says, being in the rear view mirror, I can't help but think this will have a good impact on the price. Especially if BP are also making strides to become greener so they aren't at risk of losing BlackRock investments.
That said, as soon as I can get close to break even, I'm going to reduce my position with them. I think they'll do fine in the long run, but they're a bit of a risk as they still have a lot of debt and are going through this green restructuring which is costing billions at the same time.
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