Bonanza Creek Energy Inc (NYSE: BCEI)
Bonanza Creek Energy wasn’t off to the best of days in the market today. When the opening bell rang, the stock was trading in the green. From there, the stock started on the decline. Throughout the day, we saw more and more downward movement, bringing the stock further into the abyss. However, that movement has been halted. Below, we’ll talk about what we’re seeing, the halt, and what we’ll be watching for ahead.
What We’re Seeing From BCEI
As mentioned above, Bonanza Creek Energy isn’t having the best of days in the market today. When the trading session opened for the day, things were looking up, the stock was in the green. However, that only lasted mere minutes as shortly after the bell, the stock started to sink, quickly making it to the red and beyond. By 12:23, when the stock was halted, BCEI was trading at $2.77 per share after a loss of $0.09 per share or 3.15% thus far today.
What’s Going On
The truth is that there is not a definitive answer at the moment. As soon as the CNA Finance team got the news from Trade Ideas that BCEI had been halted, we started digging to see exactly what was happening. We unfortunately were unable to uncover anything fundamental that would cause this, nor were we even able to find a rumor.
Nonetheless, there is one thing we do know. Bonanza Creek Energy was halted at 12:23 with news pending. Ultimately, anything that leads to a halt is something worth watching. So, when the news breaks, it’s likely to be big.
What We’ll Be Watching Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BCEI. In particular, we’ll be watching to see exactly what’s going on with the halt. Of course, when the news breaks, we’ll be bringing it to you. So, stay tuned!
UPDATE – BCEI has resumed slightly in the green. From there, the stock continued on the downward trend of the day. Unfortunately, news is still a bit bleak at this point. Nonetheless, we’ll continue to work to uncover the reason for this movement.
Update – Bonanza Creek Energy has reached an agreement with Silo Energy and others. Here are the details.
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of Pixabay]