Is Chesapeake Energy Stock a Buy?
Chesapeake Energy (NYSE: CHK) is having an abysmal month. Shares of the energy company have tumbled a gut-wrenching 43% over the past few weeks after it reported its third-quarter results. Not only did those numbers come in a bit below expectations, but the company also raised doubts about whether it can continue as a going concern. In a worst-case scenario, it could file for bankruptcy to address its mountain of debt.
However, while shares of the oil and gas driller have tumbled, insiders have been buying. Those purchases likely have investors wondering if they should join them in scooping up shares of the beaten-down company.
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Source Fool.com
