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Below is a list of today's twenty-five most distressed stocks (according to their Altman Z-Score or Z''-Score, respectively) with a share price of $5 or higher. For details on how this ranking list is compiled, please click here.
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NOV - Oil & oil rig companies
Shorting BP in the short run wouldn't be a bad idea, but what about related companies? I see NOV, a Houston-based oil rig company, on plenty of "buy" lists in spite of this fiasco and the deepwater drilling moratorium.
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I think the contrarian bet would be to go long on oil rig safety equipment. The existing oil rigs aren't going anywhere any for the public to accept that they'll have to further raise safety standards and compliance. Green tech cannot fill the void of oil fast enough.