Chesapeake Energy Crash Continues $CHK stock lost 17% to end at 67 cents
The lowest close since May 9, 1994 andtraded as low as 64 cents, the lowest intraday level since February 1999. The stock has been down for six straight sessions, losing nearly 57% during that period, its worst six-day stretch on record.
Chesapeake’s most actively-traded bonds by volume on Tuesday fetched an average of 55.29 cents on the dollar, a record low, according to bond pricing and trading platform MarketAxess.
Chesapeake 8% coupon bonds due in 2027 at a yield of about 19.55%.