The collapse of century-old builder Clough has hit headlines this week, and the news appears to be weighing on the Beach Energy Ltd (ASX: BPT) share price.
The oil and gas stock plummeted 4% yesterday and its down another 7.28% today, trading at $1.68 at the time of writing.
For comparison, the S&P/ASX 200 Index (ASX: XJO) slumped 0.5% yesterday and is down 0.77% right now.
But why is the Beach Energy share price among the dominos hit by the Perth-based builders collapse? Lets take a look.
Cloughs collapse dints Beach Energy share price
Its been a rough few years for the Aussie building industry. Much of it was shut down during the worst of the pandemic, only to be hit with supply chain issues and supply shortages on a return to normal…
Read the full article at: https://www.fool.com.au/2022/12/07/why-is-cloughs-collapse-wreaking-havoc-on-the-beach-energy-share-price/