With BP’s Stock Rapidly Declining, Is Now The Time To Buy?

June 4, 2010  |  

(Newsweek) — Apparently we should all be buying BP stock right now. At least that’s the recommendation of the people paid to know these things: financial analysts who follow the company. Of the 17 surveyed by Bloomberg this week, 12 recommended it as a “buy.” Five said hold. None said sell. Of course, analysts rarely label a stock as a sell, and a hold is often construed as nearly the same. Still, seriously? Two days after the stock tanked 15 percent, erasing $30 billion of BP’s market capitalization, and not one analyst thinks you should sell it?

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