Delta Petroleum Finds Some Interest After 45% Drop (DPTR)

Posted in pre-market 
September 22nd, 2009

Delta Petroleum Corp. (NASDAQ: DPTR) is trading a bit firm this morning considering yesterday’s atrocious news on a poor well drilling performance.  Shares lost about 45% of their value yesterday on over an unbelievable 84 million shares of stock.  As of 8:50 AM EST we have shares up 1.3% at $2.24 on over 500,000 shares.  This is not much considering the magnitude of yesterday’s drop, but usually these huge downward moves are not met by immediate recovery.  Average volume is now 7 million shares but that was about 4 million shares last week before it became a news trading stock again. Anything is possible and any newsw could change, but if the news and information stays static we’d look for this one to trade all over the place for a few days. -JON OGG

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