Biggest stuff up? You only present one side of the argument. A lot of competition has been removed from the market permanently or for quite a long time. The increased market share will continue in the early stages of price recovery, undoing much of the pain. Over the longer term, the strong may well end up stronger. It's just Game Theory, which is sometimes counter-intuitive. [Maybe BP were never strong enough to play that game?]
SXY Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held