Volume Spike Investor

SemGroup Energy Partners, L.P. (NASDAQ: SGLP) is trading down huge again after it was informed by its parent company SemGroup, L.P. that it is experiencing liquidity issues and is exploring various alternatives, including raising additional equity, debt capital or the filing of a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code. This was down over 50% to $11.00 yesterday and as of 8:40 AM EST it is down over 25% at $8.15 pre-market on 167,000 shares already.

Its average daily volume is only about 155,000 shares and its market cap is now going to be around $300 million.  Its 52-week trading (new lows yesterday) is $10.16 to $31.00.

Jon Ogg
July 18, 2008