BP Shares Plunge As Next Gulf Fix Gets Underway

June 1, 2010  |  

(Black Enterprise) — BP lost billions more in market value Tuesday as its shares fell steeply on the first trading day since the weekend failure of its latest bid to cap the massive Gulf of Mexico oil spill. As the British oil giant turned to yet another unproven technology to try and contain the gusher, its share price, which has fallen steadily since the start of the disaster, took a turn for the worse, losing 15 percent to $6.13 in early afternoon trade on the London Stock Exchange.

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