Why Vitesse Energy Stock Fizzled on Friday
Shares of Vitesse Energy (NYSE: VTS) spent much of Friday in the red following the unexpected resignation of its CEO. Investors couldn't shake their negative feelings about this development, and the stock closed the day almost 5% underwater.
Just after market close on Thursday, Vitesse announced that CEO Bob Gerrity had resigned from both positions, as CEO and as chairman of the company's board of directors. In contrast to most CEO departures, Gerrity's action was effective immediately.
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Source Fool.com
