Is BPs stock going to 10 a share?
The company’s fundamentals would say no. The current stock trend for the company would say no. At the end of the day, BP is still a very well managed, highly profitable and well capitalized company. The BP shorts from the beginning of this week are probably getting really nervous since the shares are up about 10% from Friday’s $27 close as well. Unless something very drastic happens, BP will most likely not hit 10 a share. The lowest I’ve seen predicted by anyone with any semblance of believability is in the mid to low 20’s (and I personally still have serious doubts about that). By something drastic, I mean along the lines of several more BP oil wells burst or the company triples the number of outstanding shares or a viable eco friendly, convenient, and less expensive alternative to all oil consumption is discovered and able to be implemented within a few months or regulators make it split up like they did Ma Bell or Standard Oil. Is it possible, yes. Is it probable, no.
