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Stock Lobster

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Stock Lobster

Re: Tuff-Stuff post# 323869

Tuesday, 06/15/2010 8:34:59 AM

Tuesday, June 15, 2010 8:34:59 AM

Post# of 648882
Re BP: Very much so, imo. Downgrade to junk means investment grade funds MUST divest....

never mind the pending dividend cut, which they are postponing announcing. Even though they will call it a 'deferred' dividend, I still would be concerned that quite a few funds who ONLY invest in dividend stocks, would see the writing on the wall, and began divesting of the stock.

The news yesterday, from the UK Telegraph, that large funds have already begun divesting, confirms what we see on the tape

BP oil spill: Largest shareholders cut stake as price falls

BP's largest shareholders have cut their holdings in the troubled oil giant – with five of the group's top 10 shareholders selling shares in recent weeks.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7825131/BP-oil-spill-Largest-shareholders-cut-stake-as-price-falls.html

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