Posting facts isn't an attempt to drag this down FORDGT. It brings balance and insight into giving traders and investors their best chance at making money here....you included.
From an investors viewpoint buying common shares of this is not the smart place to put your money. The Senior Notes are. Why?
Thornburg doesn't have a pile of cash for a protracted legal battle. Any ideas what the burn rate would be in a year long legal battle? I do. If they did do you know where those funds would come from? I do and it's called shareholders equity.
The banks they're suing know they can't sustain a big fight...the trustee knows they know and will settle for a fraction of the total sought after. The trusttee doesn't have any skin in this game that's why he is a trustee. His main mission is to restore as much of the creditors money as possible...not the equity holders stake like yours. OK. The banks will give them a token amount to go away. Maybe $250 Million.
So? So when they settle for $250 Million (or less) guess who gets paid 100% ? Senior Note holders. Guess who gets zilch? Equity shareholders.
Your pumping the wrong security here my friend and anyone who listens to your shouting rants to buy buy buy will most likely end up being a bagholder. Settlements can come real quick sometimes. This party could be over real quick but that means the party has just started for Senior Note holders.
Buyers of equity - you need to know what the reality is and no TA chart on earth can foretell any of this.
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