Chesapeake Energy Finally Finds A Home At The $2 Level After Volatile Session

Chesapeake Energy CHK shares are trading lower by $1.06 at $2 in Monday's session. It extremely volatile session, which has incurred 12 trading halts (as of 2:15 PM) was instigated by a report that the company had hired restructuring attorneys to devise a bailout plan. After a lower open, it managed only a $0.03 bounce to $2.59 before swooning to $1.50 setting off numerous circuit breakers on the decline as well as its rebound rally that came within $0.14 of its initial high. The company has attempted to ease investors to no avail fears by announcing they have no plans for bankruptcy and have been using the same legal counsel since 2010.