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Article: SEC Probes Enron; Battered Stock Falls Another 20%.(Securities and Exchange Commission investigates Enron Corp.)(Brief Article)(Statistical Data Included)
- Article from:
- The Oil Daily
- Article date:
- October 23, 2001
CopyrightCOPYRIGHT 2001 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SEC Probes Enron; Battered Stock Falls Another 20%
A 21% drop in its common stock price in a single day Monday -- on top of last week's share value fall of 27% -- sends a clear message: Shareholders have lost all confidence in Enron's management.
In barely a year, the natural gas and electricity trading giant has gone from being the company that could do no wrong to one that can do nothing right. Even a pledge to be more forthcoming in disclosing financial positions backfired on the company when it failed to live up to the promise completely (OD Oct.17,p1).
Enron common stock now carries only a quarter of the value it had at the beginning of ...