Why RPC Stock Dived by Nearly 12% Today

There wasn't much energy behind the stock of oilfield services and equipment company RPC (NYSE: RES) on Hump Day. Its equity lost almost 12% of its value, following news that a long-serving executive -- who happens to be its leader -- is departing the company.Just after market close on Tuesday, RPC announced that CEO Ben Palmer is retiring from the company. In doing this he will relinquish his twin roles as President and CEO, plus his seat on its board of directors. His departure will occur before the end of this year. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool