Shares of BP (BP) Continue To Fall

Shares of BP (

) closed the week down again dropping to $26.85. This marks two straight months that BP’s shares have decreased. BP has lost over $100 billion dollars in value over the last 2 months. The oil giant’s market cap is down to 84 billion dollars. The only costs that are known for sure are the $20 billion dollar liability fund set up by the government and the costs associated with capping the well. According to analyst Alastair Syme of Nomura Securities Co., “pressure is growing on the company to assure sufficient funding to cap the well and cover the costs from the spill, which the company now says totals $2.35 billion.” Until the oil spilling from the gulf is contained, there is no reason to rush out and buy shares of BP. Any investment in BP right now would have to be considered speculative at best.