Chesapeake Energy's stock soars again, to nearly double amid 3-day win streak [MarketWatch]
Chesapeake Energy Corporation (CHK)
Last chesapeake energy corporation earnings: 2/26 07:00 am
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Source: MarketWatch
Shares of Chesapeake Energy Corp. were vaulted 35.5% higher in midday trading Thursday, and have now nearly doubled amid a 3-day win streak, as crude oil prices soared for a second session after the historic plunge earlier this week. Chesapeake's stock has gained 90.2% since closing Monday at a record low of $14.38, which followed a tumultuous week for the oil and gas company that included the suspension of its dividend on convertible preferred stock and and 1-for-200 reverse stock split. The stock's rally comes as crude oil futures shot up 30.5%, after running up 19.1% on Wednesday. Over the past month, Chesapeake's stock has lost 22.4%, while crude futures have declined 23.0% and the S&P 500 has gained 26.5%.
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