Vanguard Natural Resources, LLC Unit (NASDAQ: VNR)
Vanguard Natural Resources is having an overwhelmingly rough day in the market today. When the trading session opened for the day, the stock was trading massively in the red. We found the reason for the declines, and don’t believe we’ll be seeing a recovery today. Below, we’ll talk about what we’re seeing from VNR, why, and what we’ll be watching for ahead.
What We’re Seeing From VNR
As mentioned above, Vanguard Natural Resources is having a rough day in the market today. While we’re only a couple of minutes into the trading session, the stock is already trading on massive declines. In fact, currently (9:32), VNR is trading at $0.32 per share after a loss of $0.67 per share (67.60%) thus far today.
Why The Stock Is Falling
As is usually the case, our partners at Trade Ideas were the first to inform us of the drop in value on VNR. As soon as they did, the CNA Finance team started to dig to see exactly what was causing the drop. It didn’t take long to uncover the story. It seems as though the company’s financial blues have finally reached a breaking point.
Early this morning, Vanguard Natural Resources announced that it would be filing bankruptcy. Of course, bankruptcy is never a good thing for investors. After all, very few companies actually survive bankruptcy, and investors in those that do experience very little when it comes to return of value, at least in the near term.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching VNR incredibly closely. In particular, we’re interested to see how this bankruptcy plays out. After all, how this bankruptcy goes will dictate whether or not the company will exist this time next year. Nonetheless, we’ll be following the story closely and bringing it to you as the news breaks!
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