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Yes, the common shares will automatically be cancelled

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1manband   Monday, 05/06/19 03:03:14 PM
Re: Value_Investor post# 29670
Post # of 29900 
Yes, the common shares will automatically be cancelled under Chapter 7. There is no other option.

People who don't understand bankruptcy law often buy shares thinking the stock is somehow a bargain. There are also a lot of charting investors that look at the charts and think the stock is a buy and don't do any fundamental DD.

I am sure a lot of current holders would be thrilled to sell, but there are only so many ignorant buyers willing to take a soon to be worthless stock off their hands. That is why volume is so low.

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