I'm not sure if it was big money that was bailing today. I watched the bid and ask intermittently and it appeared that it was fashioned towards retailers. Remember that retail bought big post BK with the expectation of a miracle. Remember all those posts by aceQ, time2time, etc that bought lots and lots? A big holder like an institution would simply dump and move on, but the bid kept dropping, but not the ask when then dumps were happening. this tells me that it was the retail.
We still don't know what the plan is for the commons. Because the BK submission said that the common holders would have no rights except the rights as disclosed in the plan, which has not been public.
Remember that Contura got the mines in exchange for the debt. And what is left is the debt free, but private Alpha, owned by unsecured debt. So what were the rights granted in the private Alpha to common that the BK statement refers to?
