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Ultra Petroleum is an Ultra Loser

ultrapetroleumUltra Petroleum (UPL) was the biggest loser in the entire stock market today, dropping 36.5% to 60 cents. The stock has traded as high as $18.04 per share within the past year, but the stock is now down 75% in 2016. This is a train wreck. With a $450 million bond due in 2018 and indications from the company in recent filings that paying back debt covenants in this environment may be difficult, investors have already pulled the plug on this one.