BP Stock... Should you buy???

[CompOrange04]

Since we talk investments alot these days, would it be a good idea to buy some BP stock? Not alot but maybe $2k worth? It is through the floor right now and I really just can't believe they aren't going to make a strong comeback in the coming years. Let me know what you think

 

[DriftwoodSVT]

It's going to keep dropping. It hasn't hit bottom yet.

 

[Domingo]

I've been watching it. I don't think it's done dropping yet either. Also, I wouldn't be too sure they are going to make a quick comeback, I'd be looking at a 6+ year investment, leaning more toward a 10 year to make good money on it.

 

[PSUCOBRA96]

wont be bad in the long term...oil is oil and its always gonna be king until its gone or replaced with something better/cheaper which is not likely soon if ever

 

[s_x_i]

10 years plus, yes I'd buy

Quick flip? Probably not.

 

[CompOrange04]

I was thinking long term... I have a 9 yr old son and an 18 month old son, I was thinking about buying a $1000 for each and see what happens. Win or lose, they will never know about it! HAHAHA

 

[Robert Francis]

This is a company that supposedly is paying out about 33 million a day (about a billion a month) on claims and cleanup - and we don't know when this will end. And about two weeks ago BP announced they were looking for about 50 billion in financing. I don't know what business today would lend them considerable sums under their current conditions of paying out for damage claims that could go on for no one knows how many years. And I don't how long BP can sustain the losses and profitably stay in business.

I'd guess most are waiting to see if the wells they are drilling now are able to meet the leaking well shaft - and if it appears they are able to plug up the leak. If they are not successful in stopping the leak, I'd guess BP stock will take a major loss. If they are successful I'd guess BP stock will substantially rise in price. However, keep in mind that even if they are successful, they still will be paying claims for who knows how much and for how many years. In considertaion of this, they may decide not to pay dividends for many years.

In consideration of all this, I'd guess that the lowest BP stock price will come very near the day they announce they are near contacting the leaking well. And then as an investor, you're on your own.

 

[Blk04L]

I bought some thinking long term.

 

[EBBS_03_Cobra]

When I sell my car, I'm thinking of buying an amount similar to the OP for a long term investment. By the time I'm done school, maybe it will be worth something. Would probably be the highest paying interest rate around, even if if only earned me say $1000 in 4 years.

I would suggest keeping an eye on it and the rest of the market. Some still believe the market will come close to a crash, if not all the way, by the end of the year. I am not a stock market regular, so I would have to do a lot of research before I would just jump into it.

 

[musclefan21]

You guys seem to forgot 2012. We are all going to die. The best thing to do is get bunch of credit cards, mod your cars and get some hookers while you can. God won't ask about your credit card debts. Can't guarantee on not getting questioned about the hookers part though.

 

[65fastback2+2]

why on earth would you buy BP when you can buy Ford at $10?????

 

[NO-BlkLightning2K]

*waits for fastfreddy's response*

 

[EatonEggbeater]

It's gone from 27 to 34 in about a week, maybe it'll continue, it was in the $60 range 3 months ago.

It took a hit from investors (hacks like me) getting cold feet, but near $27 the pro investors know it's still a good stock, so they're buying back in.

From now, whenever there's good news (and no more bad news is kinda good news) it'll continue to rise.

This being said, I wouldn't risk what you can't afford to lose.

Always hindsight, but your 2K several days ago would now be worth $500 more. Still could be $500 less, but that's the game.

I think all the people who could be frightened away have been.

I'll want to hear from FF as well, though.

 

[phillySVT]

I missed it @ 27....if it dips to the sub $30 levels again I'm sinking a couple g's in it. No doupt it will rise again.

 

[65fastback2+2]

*waits for fastfreddy's response*

here

buy gold buy gold buy gold

 

[WVFord]

I am sure there will lawsuits concerning the deaths of their workers on the rig.

 

[SN95StangMan]

why on earth would you buy BP when you can buy Ford at $10?????

Shit im still kicking myself for not buying a few thousand when Ford stock was just over a dollar in late 2008