Why Transocean Stock Tanked 10% at the Open Today

Reuben Gregg Brewer, The Motley Fool
·2-min read
Why Transocean Stock Tanked 10% at the Open Today

Shares of offshore energy services company Transocean (NYSE: RIG) fell 10% in the first half hour of trading on Feb. 23. The big news, however, came after the close on Feb. 22, when Transocean reported earnings. The headline number for Wall Street was Transocean's adjusted loss of $0.34 per share in the fourth quarter of 2020.