During today’s trading, the company’s shares continued to decline, reaching levels not seen since the pandemic created by Covid-19. At that time the value of the unit was 1,715 pesos in the international market.
Ricardo Roa, the president of Epetrol, is in the eye of the storm after learning how the charge sheet was sent against him, announced by the CNE, for his management as manager of the Petro Presidente campaign. | Photo: guillermo torres-semana / juan carlos sierra-semana
On October 28, 2020, when the world began its economic reactivation, Epetrol experienced one of the most critical moments in its history. At that time, the registration threshold set by the values of the company’s securities was 1,715 pesos. being a severe blow to the commercial activities carried out by the group at a national and global level.
However, the lowest point recorded by the company was at the beginning of 2016, when the stock on the international market reached $6.17.
On the Colombian Stock Exchange, the shares of the brand for the morning session were located above 1,710 pesos, this value showed a negative change of -1.70%. On the New York Stock Exchange, Epetrol shares fell 1.44% compared to the previous day, reaching $7.97.
Since the collapse of Wall Street, the board of directors of the company developed different strategies to avoid reaching the levels mentioned. However, the conditions that the entity’s president, Ricardo Roa, is going through have affected business lines and investor confidence both in Colombia and in the North American region.
Minority shareholders of Ecopetrol in the United States are closely monitoring the process being carried out against Roa, The adverse effects of the audits could have a greater impact which would put additional pressure on the board of directors and the support shown so far for Ricardo Roa.
A few weeks ago, through a company statement, they announced the risks he might face as a result of the damage to his reputation he was exposed to.
The company announced at the time that it will closely follow the investigations being carried out in the country, but it maintains that the probability of possible regulatory and criminal actions could be development in the United States, against Ricardo Roa, to be aggravated by the evolution of the political and electoral situation in that country.
During the month, the company’s shares have fallen steadily by 14.07%, this is one of the most complicated times the commercial organization has had. With the fall in the value of its shares, it is confirmed that there is fear in the market due to the corporate management that the company has had in recent decisions.
The world oil market is not going through a good time, the actions developed by China in this market place have made the giants of the sector to reconsider their commercial strategies, as well as to try to return the confidence lost by investors in the various platforms around the world.
The reputation crisis has affected the shares of the brand. | Photo: Ecopetrol
At this time, Epetrol has not issued any comment about the hard day it experienced in the national and international market. Investigations by the country’s judicial bodies could lead to new decisions by the board of directors.
Another fundamental aspect of the company’s development is to find new developments that guarantee the provision of service and compliance with the schedule established for. delivery of essential materials for the operation of various regions of the country.
2024-10-23 20:48:00
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