Why Civeo (CVEO) Stock Is Tanking Today

NEW YORK (TheStreet) -- Civeo (CVEO) shares are falling sharply, down 45.01% to $13.99, on Monday after the company announced that it will continue as a C corporation while redomiciling to Canada.

The company's board of directors made the announcement after assessing structural alternatives before concluding that the move would be in the best interest of its shareholders.

The Oil States International (OIS) subsidiary also announced that it is expecting fourth quarter revenue of between $200 million to $210 million to fall well short of analysts $248 million estimates.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

 

CVEO Chart CVEO data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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