Friday, April 20, 2018 11:40:47 AM
Back when Kmart filed bankruptcy, at the end of the process, after all the docs said that common shares would be cancelled, a headline came out saying Kmart would be exiting bankruptcy the next day. Some saw the headline, saw that kmart was currently selling for 20 cents, and thought they would get in on the ground floor. They pulled the stock price up 94% that day. The next day those shares were cancelled and worthless, and the bondholders were given new shares.
In the Delta bankruptcy, even after the the POR was issued showing all current shares would be cancelled and worthless, the stock ran up to nearly $3 on positive headline about the business which had no effect on the final outcome.
Joe Stocks
FEATURED CBD Life Sciences, Inc. (CBDL) Reaches Unprecedented Heights With Explosive Growth and Strategic Expansion in 2024 • Oct 8, 2024 8:00 AM
BNCM COMPLETES MERGER WITH DELEX HEALTHCARE • BNCM • Oct 8, 2024 9:54 AM
Unitronix Corp. to Invest $3 Million in USA Unity Coin Project • UTRX • Oct 7, 2024 7:08 AM
North Bay Resources Announces Assays up to 5 oz/ton Gold, 1.5 oz/ton Platinum, 0.5 oz/ton Palladium, and 0.5 oz/ton Rhodium at Mt. Vernon Gold Mine, Sierra County, California • NBRI • Oct 4, 2024 9:15 AM
Basanite, Inc. Appoints Ali Manav as Interim Chief Executive Officer • BASA • Oct 3, 2024 9:15 AM
Integrated Ventures Announces Launch of MedWell Facilities, LLC and Lease Agreement with Giant Fitness Clubs • INTV • Oct 3, 2024 8:45 AM