Exxon Valdez Oil Spill and Wild Roller Coaster Essay

Submitted By mmichaletz13
Words: 325
Pages: 2

Final Analysis

The stock that I chose for my project was Exxon-Mobile Corporation. Over the past 10 weeks, the stock has fluctuated up and down like a wild roller coaster. There have been a couple of downs. One of them was in week 7; there was an oil spill on the Nigerian Coast. This caused a huge problem; the stock price went down 82 cents. This also made loyal stockholders for Exxon-Mobile a little scared on how well the stock would do that month. Exxon spilled over 200 barrels of crude oil. More than 100 people were sent over to clean it up. This cost Exxon a ton of money. Also Nigeria wasn’t too happy with it either. What shocked me the most was that in week 10, Exxon spent 300 million dollars in a joint venture in Russia. Even though Exxon spent a ton of money the stock-still was able to go up 5 cents. In our own country we had a major hurricane that devastated the east coast. This made gas prices skyrocket. One effect of the hurricane made refineries shut down which also made gas very scarce. This caused Exxon-Mobile stock to go down 76 cents in week 6. This also was a major problem because the United States already has limited space in the refineries on the East Coast. This means that the oil they just refined had nowhere to go. In summary, the stock that I was following, Exxon-Mobile Corporation had a lot more downs than ups. I do not suggest buying this stock just because something can happen at any time like a hurricane or an oil spill. The economy and…