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I appreciate your thorough response and time Renee. Have a good one, Ree
There will likely be new equity and ticker but unless it was stipulated in the Reorganization PLAN that former shareholders would receive any part of the new equity then former shareholders are wiped out completely.
Your second question: Yes, it is typical for shares to be cancelled because the former equity is considered burdensome to the Secured Creditors agreeing to the PLAN. Once in a rare while former shareholders may receive a token amount of the new equity, or warrants to buy the new equity at a reduced price, but to repeat, those instances are rare.
Your third question: "why do people buy shares of a company filing Chapter 11?".....poor research on reorganization BK's; or high risk gamblers hoping they can flip shares for a profit before the shares are cancelled; or extremely deceptive message board posts FALSELY declaring that 'this stock will be different'; or any other nonsense reason.
Any chance of trading with new ticker and shares convert? I bought small position, but disappointed to hear shares cancelled, is that typical in Chapter 11 restructuring? If so, why do people buy shares of a company filing Chapter 11?
QHCCQ Bankruptcy PLAN effective. All shares cancelled.
https://otce.finra.org/otce/dailyList?viewType=Deletions
$QHCCQ: Monster dip.............. down to $0.061
Almost ready to get in
LETS go baby
Time to cash in big
GO $QHCCQ
This is ready to explode... I give it until end of spring and then KABOOOOOM!
DO you think this thing has any chance of getting above the teens again? I was long pre bankruptcy, had a sell order in at .64 and did not get completed despite it trading in the range or higher. Now I am sitting deeply in the red. Any insights or thoughts?
$QHCCQ: moving up to $0.10 now
Lots of volume in here today
GO $QHCCQ
QHC changed to QHCCQ, bankruptcy. Delisted from the NYSE to the OTC:
https://otce.finra.org/otce/dailyList?viewType=Additions
* * $QHC Video Chart 12-03-2019 * *
Link to Video - click here to watch the technical chart video
$QHC $.0001 Book Value Per Share (mrq) -2.87
* * $QHC Video Chart 04-24-2019 * *
Link to Video - click here to watch the technical chart video
welp that was crappy timing lol good thing it was just a starter position
took a starter short position in this. Breedlove leaving not good.
Is there anyone hear who follows QHC anymore?
Clay. what do you think of QHC today? Worth picking up in your opinion or is it likely to slip further?
* * $QHC Video Chart 05-19-17 * *
Link to Video - click here to watch the technical chart video
KKR Asset Management LLC has filed a new activist 13D, reporting 5.6% ownership in $QHC - https://fintel.io/so/us/qhc
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