Destination Maternity Corp. (fka DESTQ)

[chemist72]

Think you will find that most brokers have gone to close-out only mode for this stock.

This is in anticipation of the new SEC rule regarding current information that goes into effect on Sept. 28. I still don't know exactly how tickers that are in the midst of bankruptcy proceedings will be affected by this rule.

I have stated previously that I am expecting this ticker will likely become untradeable after Sept. 28. If that happens then the only way you will be able to sell these shares is if and when the bankruptcy cased is closed and this ticker is then merged with a real company (like Marquee Brands for example) and can then apply for a new listing on either a real exchange (e.g. NYSE or NASDAQ) or on the OTC Markets trading site.

I have no idea whether or not this will happen in the near future with DESTQ shares. If this company does not get reorganized and emerge from bankruptcy it will never be worth anything. You may not even be able to realize a loss for tax purposes if you cannot sell these shares in any forum.

Its all a crap shoot now as I expect the share price to go near ZERO after Sept. 28, unless some exception is made to the new SEC rule for companies in bankruptcy.

Its all a big unknown for me right now.