Why Chesapeake Energy's Stock Is Trading Lower Today

Chesapeake Energy Corporation (NYSE: CHK) shares are trading lower after it was reported the company is said to prepare chapter 11 filing, giving lenders control.

Chesapeake's stock rallied approximately 76% on Monday.

Chesapeake Energy Corp is a U.S.-based exploration and production company. It is engaged in the acquisition, exploration, and development of properties for the production of oil, natural gas and natural gas liquids from underground reservoirs.

Chesapeake's shares were trading down 56.66% to $30.30 per share at the time of publication. The company has a 52-week high of $430 and a 52-week low of $7.77.