Chesapeake (CHK -3.8%) shares slide a day after after the company disclosed it has received a...

Chesapeake (CHK -3.8%) shares slide a day after after the company disclosed it has received a Justice Department subpoena related to land deals it made in Michigan. Four days before the government asked for documents, Reuters reported CHK colluded with Encana (ECA -0.2%) to suppress land prices in areas considered rich in oil and natural gas.

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Comments (3)
  • Alejandro43
    , contributor
    Comments (107) | Send Message
    Much ado about nothing? Probably. Note the significant discrepancy in share price decline between CHK and ECA. Why?
    10 Aug 2012, 03:10 PM Reply Like
  • TommyBoyJr
    , contributor
    Comments (15) | Send Message
    Corruptness pays in the corporate world. Time to buy.
    10 Aug 2012, 04:38 PM Reply Like
  • pauliene
    , contributor
    Comments (481) | Send Message
    it is interesting to note that chk has risen in price for several days and was due for either an up move in price, or a rest ,or slight dip.
    the government will proceed as usual, and we will see that they really have the "goods" on the company, or, they will just let the issue not be resolved.
    the only downside is ,what if they were right? I see limited effect on the company itself this is a fact.
    what I do see is a tremendous short position, a great deal of unbelievable daily trading on a stock, even if I am bullish on chk, that does not deserve the daily volume. unless something is happening that we do not perceive.
    its obvious the price is determined by the big institutions, and , we, the public are the bystanders.
    so its back to the price of natural gas, the building of storage for the winter months, the sale of unneeded assets and the prices received.
    remember, if we get the sales of assets as in the company statements I believe we will see appropriate reaction in the stock price
    10 Aug 2012, 04:52 PM Reply Like
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