No kidding lindy. I've never understood the "logic" of picking up stocks that have already announced their intention to cancel the commons.
There are plenty of other bounce plays out there where that contingency doesn't enter into it.
I can see it early in the Q, where that announcement hasn't been made yet.
I guy can do pretty good bouncing off the "death spiral" lows. Pretty easy way to pick up a greasy 100-200%, even if it seems likely they will cancel those shares later.
I try to pick only the ones where the commons have a good chance of surviving the process.
I picked wrong here obviously, but they had a real good chance right up till the end.
Still might yet, although the odds are getting longer.
You are welcome to visit my personal board, those are all pretty good for various reasons. GL Lindy.
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