- California Resources Corp. (CRC -9.8%) plunges suddenly following a report that the company is seeking $500M-$600M ahead of a bankruptcy filing.
- The company has been in talks with lenders around a financing package to carry it through a planned Chapter 11 proceeding, WSJ reports.
- Earlier this week, the company said it was unable to file its 10-Q report until mid-June and that "there is substantial doubt about the company's ability to continue as a going concern."
California Resources could be on verge of bankruptcy
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About CRC Stock
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| Symbol | Last Price | % Chg |
|---|---|---|
| CRC | - | - |
| California Resources Corporation | ||