Chesapeake Energy’s stock heads for 7th-straight loss, longest such streak in over 4 years
Shares of Chesapeake Energy Corp. CHK, -4.15% tumbled 6.1% in afternoon trade Friday, enough to pace the S&P 400 Mid Cap index MID, -0.10% in losses, and putting them on track for a seventh-straight loss. That would be the longest losing streak for the oil and gas exploration and production company’s stock since the 11-session losing stretch that ended on Oct. 14, 2014. Since that losing streak, there had been seven 6-day losing streaks. The stock has lost 20% during its current losing streak, but was still up 34% since it closed at a near 3-year low of $1.73 on Dec. 24. The stock’s decline on Friday comes despite a 0.1% gain in crude oil futures CLH9, +0.13% Chesapeake has not issued a press release or filed anything with the Securities and Exchange Commission since Feb. 1. The stock has tumbled 34% over the past three months, while crude futures have shed 14%, the S&P 400 has slipped 2.9% and the S&P 500 SPX, -0.20% has lost 3.9%.
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