A year ago, California Resources Corporation (CRC) was trading around $26 per share, almost ten times as high as its latest closing price of $2.65 (March 25th). I also recall seeing an assessment that the share price should be at $50.
Source: Seeking Alpha.
With the coronavirus destroying worldwide oil demand, and the Saudi-Russian oil price war, prospects for the company have become dire. Brent futures prices have fallen far below breakeven for the company, and if prices do not spike hard and soon, the company will have difficulty surviving, absent a bailout of the