Weatherford International plc
|Company Name||Weatherford International plc|
On October 29, 2018, the Company reported a loss of $199 million, or 20 cents per share, for third quarter 2018, signaling that Weatherford may be headed toward bankruptcy. However, the Company’s Chief Executive Officer reassured that these results were mere “bumps in the road.”
On this news, the Company’s stock price fell $0.44 per share, or over 22%, to close at $1.54 per share on October 29, 2018, thereby injuring investors.
Then, on May 10, 2019, the Company announced that it intended to file for Chapter 11 bankruptcy protection.
On this news, the Company’s stock price fell $0.31 per share, or more than 86%, to close at $0.05 per share on May 13, 2019, thereby injuring investors further.
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