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| Topic: |
Business
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| Number of pages / Number of words: |
11 / 2986 |
Essay's paper body
When the executives started selling their shares, the price soon began to plummet. Even as the stock price was steadily declining, investors were encouraged to keep their shares because the stock price would soon bounce back.
By August of 2001, even though Enron's stock price had fallen to $42, shareholders held on because Kenneth Lay, CEO of Enron kept assuring them that the company was headed in the right direction...
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As October rolled around, the stock had fallen to $15. Due to the cheap price, many saw this as a great opportunity to buy stock in Enron because of what Kenneth Lay had been feeding the media.
On November 30, 2001, Enron's European branches filed for bankruptcy. Two days later, on December 2, 2001, Enron filed for Chapter 11 bankruptcy in the United States...
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