Is It Time To Sell Your Shares? Crestwood Equity Partners LP(NYSE:CEQP) and Echo Automotive Inc(OTCMKTS:ECAU)
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Crestwood Equity Partners LP(NYSE:CEQP) saw its value decline by 6.81% during yesterday’s trading as the stock lost eighty-six cents to finish the day at a closing price of $11.77. The stock notably traded for as little as $11.55 during the day, a new 52 week low for the Texas-based natural gas storage company that once reached a 52 week high of $15.78. It was a rather active day for Crestwood as the stock had a trading volume of 1,358,774,
Before the markets opened on Aug. 6th, Crestwood released its second quarter financial results. Key figures included an Adjusted EBITDA of $117.7, up $1.1 million from the first quarter, and a net loss of $4.8 million for the second quarter. Since making the announcement, Crestwood has seen its value decline by $2.59.
Echo Automotive Inc(OTCMKTS:ECAU) suffered a 25.64% decrease in value yesterday as the stock lost $0.0010, leaving the stock at a closing price of $0.0029. The stock remains heavily traded with a trading volume of 130,825,166, which is over 120,000,000 higher than its three month average of 10,311,200. The Arizona-based company has a market capitalization of just $272,276.
On Aug. 6th, the company released a Form 8-K announcing that it had received a notice of default from Magna Equities II, LLC. Echo Automotive, which failed to repay a debt of $350,766.67, does not expect to be able to file its 10-Q by Aug. 15th, 2014 and is currently “exploring options to restructure the business.” All signs appear to be pointing to Echo Automotive’s eventual demise.
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