GTT Communications Inc (GTT)

[Renee]

GTT SEC Cease and Desist Order:

https://www.sec.gov/files/litigation/admin/2023/33-11241.pdf

[Renee]

GTTNQ: Bankruptcy Plan Effective. Shares cancelled and exchanged for 0.01245025 New Warrants for each GTT Communications share held.

FINRA deleted symbol:

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

[stocksrising]

Current shareholders will get warrants post Bk ..maybe another Hertz , hopefully lol..

[stocksrising]

Yep, saw that…expected but still pissed with management! Can only hope they’ll keep same Cusip but more likely give us warrants after BK finalized( there should be some value/equity post Bk )

[Renee]

GTT changed to GTTNQ, bankruptcy:


https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[stocksrising]

good move so far, lets see if this turd can get deal closed before restate! doubtful, but hopeful

[Dharna]

Thanks. I jumped ship at 1.35 and 1.43

Took my loss..

Had to try a short squeeze stock they said. It will be fun They said. Lol

[stocksrising]

i have same and other accounts with GTTN and they reflect ... short position will remain ( either higher or lower) but NO option trading which may effect the Reddit gang...IR lady does return calls but cant really say anymore than what is reflected on sec.gov

[Dharna]

I use TD Ameritrade. I do not have my shares as of yet. Who's Trading? Also the 20% that were short do they still need to cover? I don't have my shares are they shorting it to Oblivion

[stocksrising]

Yes sir! Now let’s close the damn EU deal!!!

[Dharna]

GTTN it is then. See what happens.

Some intrinsic value left.

[Dharna]

I like this post

[stocksrising]

i hear ya, was thinking at least to the August timeframe as well.. just blows my mind that its taking 1 yr. to restate the books!! the 2 tards in charge prior to Ortega really did a job on this turd!!! they grew by acquisitions, no Organic growth unfortunately which allowed for shenanigans i surmise!! this new mgmt team could right the ship I'm hoping and then regain NYSE if/when sale goes thru..I think its the Germans ( EU) that are cautious on closing transaction but it WILL happen (this is not insider info, but due dilly only and IMHO)..the sales staff are still closing deals, so at least that's positive...

[Dharna]

Well sh. It. Didn't see that coming. Risk/Reward . Risk won this time. Damn.
Absorbed a lot of gains. Thinking postive here.

Disgraced company.

[stocksrising]

prob so, sub $1 ... we got a stinky pinky, lmao!! posted this 1 month ago, surprised they didn't file BK the chicken s*it$ (Same old Bs*h% 8k’s, and part of me wishes for BK, but that would be too easy for current board & officers!! The only way to play this scam is writing calls to lower cost of ownership!!)

[Hattori Hanzo]

More like 80% down when it starts trading again

[Hattori Hanzo]

Is this the Kaboom you were expecting?

[stocksrising]

GroundHogs day, month year!!
The Company does not expect to be able to file the Q2 2020 Form 10-Q, the Q3 2020 Form 10-Q, the 2020 Form 10-K or the Q1 2021 Form 10-Q by the New Expiration Date, and the Company is unable to predict a specific filing date for the Q2 2020 Form 10-Q, the Q3 2020 Form 10-Q, the 2020 Form 10-K or the Q1 2021 Form 10-Q at this time. The Company intends to work diligently to file the Restated Financial Statements, the Q2 2020 Form 10-Q, the Q3 2020 Form 10-Q, the 2020 Form 10-K and the Q1 2021 Form 10-Q as soon as possible.

[Dharna]

Throw them a bone. It would be nice for some publicity about right now.

[aks_v]

GTT green candles and volume alert…$3+ and then kaboooom

[stocksrising]

Nice!! I’ve been writing July 4&5 strikes, and will sell another 10calls when we open to lower cost further..
Searched the Reddit boys ( wsb) but didn’t see any pump..they are taking up another ticker I own( ag*t*c)

[Dharna]

1st 50%return in the books.

News and the squeeze is on..looks.like the cat is peeking out of the bag.

I think we're good here.

[stocksrising]

I mean downside could be sub $1, but blows my mind that these Lenders keep extending ‘Amendment to Priming Facility Credit Agreement’ ( going on #5 after 6/28 if extended)…the financials must be really f’d up seeing its like 1yr. Since discovery! Close the sale, get Audited and we fly ( especially if the WSB keep
Playing with it)

[Dharna]

This is more of a risk reward play. Possible 25% down but the upside potential terrific. Any good news cleaning of the balance sheet, 21% short on a very small share count.

[stocksrising]

If Ortega can get Revised Audited Financials up to date , it flies to 8-10!! They complete the European sale, it goes higher!!

[Dharna]

22% short on very few shares.
Shirt i Teresa has gone up
Buying some just in case.
It's on the list of most shorted.

I like this one.

[ClayTrader]

* * $GTT Video Chart 06-04-2021 * *

Link to Video - click here to watch the technical chart video

[stocksrising]

Same old Bs*h% 8k’s, and part of me wishes for BK, but that would be too easy for current board & officers!! The only way to play this scam is writing calls to lower cost of ownership!!

[ClayTrader]

* * $GTT Video Chart 06-03-2021 * *

Link to Video - click here to watch the technical chart video

[biotechnician]

Apes eyeing CLWT micro float 1m, an esg play

[stocksrising]

Ortega needs to float some shares in a $200mm raise today!! ATM

[georgie18]

GTT...$4.62...Volume pouring in here...:partying_face:

[crudeoil24]

GTT > moving up $$$$$

[georgie18]

GTT...$4.02s clearing here...:party:
[9:59 AM]
georgie18 — Today at 9:25 AM
GTT...$3.44...strong P/M volume here...:party:

[makinezmoney]

$GTT: Hit 4.50 in premarket....... nice 3day bounce


Looks like its gonna avoid BK



NICE



GO $GTT

[ClayTrader]

* * $GTT Video Chart 06-02-2021 * *

Link to Video - click here to watch the technical chart video

[stocksrising]

What up G?? TT

[stocksrising]

Can someone explain all this gibberish just filed with Sec? My take is forbearance again by creditors extending a life line from pre pkg BK???

[jgrabar]

https://www.law360.com/articles/1337837/gtt-investors-seek-25m-deal-over-disaster-interoute-buy

https://www.law360.com/articles/1367151/saxena-white-seeks-9m-for-25m-gtt-securities-settlement

https://grabarlaw.com/the-latest/gtt-communications-inc-investigations/

Per above, it is alleged that officers and directors of GTT Communications, Inc. failed to disclose that: (1) there were delays in migrating Interoute's legacy systems and processes into GTT's client management database system; (2) Interoute had made a strategic shift to focus on providing cloud services that deviated from GTT's core cloud networking business; (3) Interoute's sales force was underperforming and ineffective at selling GTT's core cloud networking services. These governance failures led to the announcement of a $25 million class action settlement.

Current GTT shareholders who have held shares of the Company’s stock since at least February 26, 2018 have standing to seek corporate governance reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate.

[ClayTrader]

* * $GTT Video Chart 03-10-2021 * *

Link to Video - click here to watch the technical chart video

[stocksrising]

Life line? Does it really matter? Just shows Employee’s are still busting their Arsse, but the Audit committee can complete their job? They only have one thing to do and can’t even get that right!

[pitacorp]

for sure, but after it goes down more first.... read the charts...

[All_In4DNAX]

The beginning of the collapse to under a dollar?

[Lucky_Charm$]

1.90 It is ;)

[ClayTrader]

* * $GTT Video Chart 03-02-2021 * *

Link to Video - click here to watch the technical chart video

[stocksrising]

BK , or not to b ok? That’s the question ?????

[HoldEm777]

Heavy volume and bid support now.

[Digdeeperinsideinfo]

This right here this the stock that can’t guard me. Going up to $4 real quick

[Lucky_Charm$]

What’s the short interest on $GTT now? Ridiculous prices....

[stocksrising]

Not sure why Gene filed another S3, especially without disclosing amount of share position?