Down in the Delta Petroleum (DPTR)

Posted in General 
November 7th, 2008

Delta Petroleum Corp. (NASDAQ: DPTR) is one of the ugliest energy companies on Wall Street this morning.  The company posted earnings and Kirk Korkorian’s Tracinda has dropped its planned tender offer for 14 million shares ofDPTR stock.  The $11.00 figure was too high for the new world, or so that was said.

At 9:54 AM EST we have seen a 36% drop to $4.21, a new 52-week low under the old $6.56 to $28.37 range.  We have also seen 4-times the normal trading volume with about 1.7 million shares having traded hands.

Jon C. Ogg
November 7, 2008

Comments are closed

-->