Shares in one of the biggest natural gas companies in the U.S. were halted on Tuesday after plunging by half on a report the company could be about to go bankrupt. After markets closed on Monday, the Bloomberg report of bankruptcy plans sent investors running for the exits. Chesapeake shares were changing hands at $32.25 on the NYSE on Tuesday, down 54 per cent from Monday's level. Trading in the shares were halted another 14 times on Wednesday. In April the company implemented a 200-for-1 stock consolidation in an attempt to stop its shares from being delisted from the stock exchange.

Source: CBC News June 09, 2020 19:18 UTC