Wednesday, March 22, 2017 12:16:30 PM
The problem is that a lot of the retail market has absolutely zero understanding of the bankruptcy process. I am amazed when investors who do not understand the Chapter 11 process, decide to 'pick up a few shares', like they are buying a lottery ticket, not fully realizing that a lottery ticket is probably a better choice since those usually have a better chance of being worth something. For whatever reason, even though a company loses money year after year, and then ends up in Chapter 11, some optimists think that somehow the company is now a 'good buy' plus expect the old common shares are going to be part of the new company.
BTUUQ also had the unfortunate problem where the stock skyrocketed on the expectation that there was still some value left for the old equity and would share in the recovery under the plan, so many retail investors think there must be something here for the old common shares.
Louis J. Desy Jr.
Recent BTU News
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