Diamond Offshore Drilling Inc (DO)

[The Man With No Name]

This is gonna move hard.....and not down.

[Dennisb68]

LOL, Sure you did.

[PAUL_MARKOWITZ]

MMs lining up on BID...ARCA at 0.35.

[PAUL_MARKOWITZ]

Haha...looks like I got company. I made big money yesterday....you feel pain for that?? LOL

[Dennisb68]

Let me guess. You bought back in at about .24 LOL

[PAUL_MARKOWITZ]

Looking or a re-entry point>>>

[PAUL_MARKOWITZ]

Looks like DOFSQ is going back up after ugly close yesterday>>>

[PAUL_MARKOWITZ]

TRADED my share here: 100k shares from 0.22 to 0.389: $16,900 in the bank>>>

[camfarm]

Any ideas to where we may go from here?

[Dennisb68]

I had 20k shares and doubled down yesterday morning.

[PAUL_MARKOWITZ]

DOFSQ....40cts POOF>>...HALF A DOLLAR TODAY!!!

[PAUL_MARKOWITZ]

1.5m shares traded in 20mins>>> 50CTS SOON

[PAUL_MARKOWITZ]

30 CENTS BREAK....MIGHT SEE HALF A DOLLAR TODAY>>>>>>

[PAUL_MARKOWITZ]

GOT my 100,000 shares yesterday at 0.22....Looking for a short term uptrend.

[Dennisb68]

My stocks in Diamond Oil finally converted from DP to DOFSQ in my TDAmerica account. Up to now it was still listing it at DO and .93 with no way to buy or sell.

[Dennisb68]

Agree, and they shed a lot of debt.

[surf1944]

This may turn out to be a more profitable BK play that most, since it is largely owned by a single holder, Lowes.

[Renee]

DO changed to DOFSQ, bankruptcy. Delisted from the NYSE to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

[Mygolfballs]

Reverse splits will make it look better at expense of shareholders once again

There is no good end here in BK

Grim

[Mygolfballs]

Shareholders last in line always

Unless ur preferred

GL

Grim

[Dennisb68]

Not true. I have seen stocks do very well after a bankruptcy. It all depends on the terms of the bankruptcy. Company can shed a lot of debt.
Chapter 11 bankruptcy signals that the company is asking the court to protect it from its creditors until it files a detailed plan for how it intends to recover financially. If the court accepts the plan, the company may renegotiate its debts, drastically cut its costs, and resume doing business. Over time, it may thrive and emerge from bankruptcy (or not).

[Almosthere]

DO is DONE! Bankruptcy is never good for shareholders!

[Dennisb68]

It all depends on the terms of the BK.

[lvhd]

Maybe not. Check the book value after paying the debts. DO

[Dennisb68]

https://247wallst.com/energy-business/2020/04/27/oil-driller-diamond-offshore-files-for-bankruptcy-protection/

[Pro_Stock_Trader]

They froze it to save assets I believe

[Dennisb68]

Or they will see that this is actually good for the stock. We shall have to wait and see.

[Almosthere]

Reality has finally sunk in. Current shareholders will be standing with crumbs when this is over.

[1plus1]

HALTED FOR WHAT ?

[Dennisb68]

Any guess on when this may trade again?

[Pro_Stock_Trader]

Yupp. Major bloodbath.

[TrendTrade2016]

DO.... BK this is just the start of BKs...2020 will go down as the year of BANKRUPTCY in the oil sector...its going to be a slaughter house in the oil sector today!!

[Dennisb68]

This may be why the stock was up 13% on Friday.

[lvhd]

DO wow! Assets double than debts plus cash on hand. I don't get it.

[Dennisb68]

Thanks.

[Pro_Stock_Trader]

Best of luck

[Dennisb68]

Earnings come out tomorrow so it will be an interesting day. In the long run this may be good for the stock. Oil down 1.74 tonight.

[Pro_Stock_Trader]

Very true. We'll just have to see

[Dennisb68]

Good catch.. "“There is a high likelihood that the company restructures its debts, either through an out-of-court settlement with its creditors or through the bankruptcy process,” Moody’s analysts stressed."

https://marketcap.com/diamond-offshore-drilling-files-for-bankruptcy/

[Pro_Stock_Trader]

News just in $DO files for BK. Looks like this is going to become a penny stock. https://www.google.com/amp/s/amp.ft.com/content/8e35d2a7-6157-491d-9e89-2918bc94ce33

[lvhd]

Agreed.

[webdev2016]

Going to run hard .. imo

[Dennisb68]

Broke it today but it didn't hold.

[Dennisb68]

Earnings on Monday should be interesting.

[lvhd]

Let's break 1 again. DO

[Dennisb68]

I'm ready.

[lvhd]

DO should bounce from here

[Dennisb68]

I don't think it will ever come anywhere .30 and will likely see $1.50 before it sees .30

[lvhd]

Did you see WLL today? LOL

[Almosthere]

This stock will be at 0.30 in another week or two.