What I will tell you.....
1. I was on the fence about pulling the sell trigger going into this week.
2. I spent a lot of time this weekend trying to decipher chapter 15 bankruptcy terminology and cases that have survived and kept the existing common in play.
3. Key terminology kept getting my attention while reading message boards, recent pr’s, the bankruptcy verbiage, the dockets, and website communication. Stakeholders vs shareholders had me feeling that the shareholder could get burned here.
4. Last night after the Super Bowl I reached out to a person I had previously correspondence with from Luckin IR. I expressed my concern as a common shareholder and potential loss of my shares based on the recent filing. Without being able to say my shares were safe, she said focus greatly on the JPL language that had to do with this action being a necessary yet benign step in the process. That has been the paragraph that has had me uncertain as to the need to sell into this news. The paragraph that states:
“The Chapter 15 filing is a routine filing in the context of Cayman restructuring involving international jurisdictions and should not be confused with a terminal bankruptcy process involving the winding down, sale or liquidation of the company.”
At the risk of jinxing this move today....I thought it was a relevant share. Follow your own DD here tho as this could go many directions and could take plenty of time to work thru these processes.
