Monday, 8 February 2016

CHK - facing the end of times

Whilst the main market settled significantly lower, there was even more extreme weakness in Chesapeake Energy (CHK), which imploded by 50% in early morning to a new low of $1.50, but settling lower by a relatively moderate -33.0% @ $2.05. Mid term outlook is... bankruptcy.

CHK, daily

CHK, monthly


It was a pretty wild day for CHK, with the stock being suspended in the morning, only to see the company issue a press release stating it had no intention to file for bankruptcy.

In terms of price, CHK has been in collapse mode since summer 2014, falling from a high of $29.37 to today's new low of $1.50...  a drop of -94.9%.

CHK has been on the 'disappear list' for many months, I don't expect it to be around beyond April/May. 

The next obvious question is... after CHK disappears... who is next?