Too bad LINN couldn't have held on for another 6 months. Now that oil is almost up to $50/barrel, a point at which LINN MIGHT have been able to barely survive, it appears too late to save the company. Win some lose some. Rice and beans for this old man!
over 20 years of nickels and dimes gains wiped out in a bad choice, it's hurt... And the worst part is I can't write it off since it was in an IRA account. Well, at least I still have my pension to fall back on.... :)
bought @ $28. lost $42k in my account and $60k in my grandmother's account. Hard lessons learned.
Any point holding into OTC listing??
mr.phil, they submitted a proposal to Da Judge to cancel the outstanding shares, an unusual strategy unless they're making a sweetheart deal with the creditors.
marco the super genius : - ))))) If the Judge agrees, these shares are worth about ZERO, without a RS there's no value except for collectors. If you bought expecting otherwise, you are so @#$%^
Ryan , Not as simple as your explanation . There will be a restructuring Debt for equity swap and a Reverse Split that will keep it listed. It will bottom before the RS at 2-3 cents and then rise 4-10 cents shortly after, giving a good chance for a trading gain. It might end up better than YRCW if you are old enough to remember. I want bet against them long term.