Dividend Cut Fears Sends BP to New Lows

BP (BP) continues to free-fall to new 52-week lows, despite getting the oil leak under control, as investors worry about a dividend cut and concerns that the worst case scenario, bankruptcy, may play out.

It appears that investors are looking beyond the containment of the leak and staring at the potential 800,000-1 million barrels floating around in the Gulf. The spill has already wrecked havoc on wildlife in the Gulf region and threatens to inflict more damage on the environment and local economies. Analysts see total liability for BP ranging from $10-$40 billion. But with lawsuits flying, these estimates may need to be adjusted.

Source: TheStreet.com

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