Back in December 2019, Noble Corp. (NE) stock’s visit to the penny stock zone did not last long. This time, the situation looks more challenging since the stock breached the $1.00 level and maintains the downside trend fueled by the negative price movements in the oil market and the company’s own misfortunes. In the comments sections of offshore drilling – related articles, some investors have already started to discuss whether the market believes that Noble Corp. is heading for bankruptcy in the near term. Here’s what I think.
The current downside trend in