Why Baker Hughes Stock Plummeted 35% in March
Shares of diversified energy services company Baker Hughes (NYSE: BKR) fell just under 35% in March according to data from S&P Global Market Intelligence. That was brutal and much worse than the S&P 500 Index, which was down "just" 13% over the same span. While Baker Hughes rebounded off its lows by the end of the month, that's not much solace.
Unfortunately, the pain isn't likely to be over yet (even though the stock has continued to rebound with the price of oil of late).
The easy reason behind Baker Hughes' painful stock decline is that COVID-19 sent the market into a downward spiral. To be fair, that's a big piece of the story, here.
Source Fool.com
