Popular News From Popular Sites: Civeo has biggest one-day drop ever on heavy volume

Monday, September 29, 2014

Civeo has biggest one-day drop ever on heavy volume

Traders work on the floor of the New York Stock Exchange By Ryan Vlastelica NEW YORK (Reuters) - Shares of Civeo Corp lost almost half of their value on Monday, with the stock suffering its biggest one-day decline in its history on its heaviest ever volume. The plunge came after the oilfield company, which was spun off by Oil States International Inc earlier this year, said it would not convert to a real estate investment trust, instead relocating to Canada for tax purposes. Civeo, currently based in Houston, said it plans a "self-directed redomiciling" to Canada, which it believes is allowed under the U.S. ...




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