Sable Offshore Corp (SOC) Stock Plummets on Legal Setback – What’s Next for the Embattled Oil Driller?
Legal Ruling Triggers Stock Plunge Sable Offshore’s stock cratered on Oct. 15 after a critical court ruling went against the company. In Santa Barbara Superior Court, Judge Thomas Anderle issued a tentative decision denying Sable’s petition to overturn a state order blocking its pipeline repairs reuters.com reuters.com. The ruling, which Sable called a “major setback,” means California’s cease-and-desist order remains in force, preventing the firm from reactivating its onshore pipeline for now. Investors reacted swiftly. SOC shares tumbled ~26% in pre-market trading on the news reuters.com, and the stock opened the day in free-fall. By afternoon Oct. 15, SOC hovered