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Thursday, March 30, 2023 10:11:53 PM
It's important to remember, this is in bankruptcy.
In most bankruptcies, equity ends up being cancelled. Do some research on public companies that have gone through chapter 11.
This is a trade, not a long term investment. Even if a company emerges from chapter 11, equity is cancelled 99% of the time, with new equity issued. On rare occasions, equity will get issued to the equity in bankruptcy, at a highly diluted conversion.
Careful folks. Keep up with filings, and the bankruptcy plan. It's vital information.
https://www.toptal.com/finance/bankruptcy/chapter-11-bankruptcy-what-is-it
Understanding the process is also vital.An equity committee is usually appointed, when a possible outcome that doesn't wipe out equity could happen. This is still very early stages, and will all be given light through the court process, and filings.
DISCLAIMER: ALL MY POSTS ARE MY OWN PERSONAL OPINIONS AND NOT RECOMMENDATIONS TO BUY, SELL OR HOLD SECURITIES. DO YOUR OWN RESEARCH/DD AND MAKE YOUR OWN TRADING DECISIONS.
People kill for money. What makes you think they will not lie to you for yours?
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