(Bloomberg) — Chesapeake Energy Corp. collapsed to a 20-year low Wednesday, one day after the shale gas driller warned it may not be able to outlast low fuel prices and issued a “going concern” notice.Shares fell as much as 24% intraday to their lowest since 1999. The stock also briefly dipped below the $1/share mark, and Wall Street isn’t optimistic on Chesapeake’s future.“While we don’t expect this move to come as a surprise given balance sheet issues, the going concern warning in the most recent 10-Q highlighted a declining leverage covenant that may be [to] difficult overcome in our view,” …read more
Source:: Yahoo Finance
