The implicit concept behind your statement is the the market is always right.
If that were true then the concept of undiscovered gems etc. would not exist just as the concept of getting into a stock before it is discovered would not be possible.
The share price went up on the news that the stock would continue to listed on the NYSE. Apparently many people thought that meant that the common shares were intact. Those people will be very surprised when the BK is finalized.
We shall see what the truth is when the BK is discharged from court.
"Wise men talk because they have something to say, fools because they have to say something." PLATO
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