For a minute there, BP shares looked as though the blown gasket in the Gulf would be a non-event. Shareholders had plenty of time to sell but apparently many of them chose not to…at first.
Maoxian has a great chart up illustrating the delayed reaction, seen below:
In this day and age of breaking news being discounted into a stock price in nanoseconds, the BP thing is an anomaly. I suppose there wasn’t enough information out there as far as how bad things could get.
Tags: $RIG, $BP