I am not looking to marry PSUNQ, Just have some NSA make 10/20 fold profit and get out. I look for opportunities and after that I will dump loads on you face :) LOL I just don't care either if PSUNQ survives or not. I know that in next 8-10 months PSUNQ will have dozens of flipping opportunities.
How much debt is being exchanged for how much equity? In most bankruptcies the entity does not liquidate (Ch 7), but is reformed into something new. However, and this is the important part, existing shareholders are wiped out and the new owners (shareholders) profit from any recovery. So I'll ask again...what makes you think that pre-existing shareholders will receive equity in the new entity that emerges from bankruptcy?
Boy, Did you notice hundreds of 1, 100 , 200 and 300 share blocks traded in last 2 weeks? Someone paid 1000s of dollars of trading free just to manipulate this way, Are they doing this for a reason? Simple Trade manipulations?? And until December PSUNQ will be traded over 30-40 cents and back dumped to 1/2 cent , you will see this game, either sell off and move or just see how interesting it goes. I have seen many "Q"s, and this is no different.
Until restructuring is completed PSUN is played in hand of MMs/Shorts/Manipulators where price can go anywhere from 1 Cent to 30 Cents, depends on how much money they pump into this. SSCCQ market players pumped it from .009 to 1.20 , made many brokers multi-millionaires from a Bankrupt stock.
Company has said it will go private after "Restructuring", which may take over an year. PSUNQ will be traded in OTC til then or it can even move to NASDAQ if PPS go higher. Looking at the history of Golden Gate, it can turn around PSUN, take a major stake and go public, In that case I don't see PSUN anything less than a dollars.
Let's see how does it go on May 3rd.
Sentiment: Strong Buy
Counsel to any statutory creditors’ committee appointed in these chapter 11 cases, so as to be received no later than 4:00 p.m. (E.T.) on April 25, 2016 the “Objection Deadline”). If a timely Objection(s) is received, a hearing shall be held on May 3, 2016 at 3:00 p.m. (E.T.), to consider, on a final basis, the relief requested in the Motion.
Shouldn't we be hearing something very soon?
Whoever call us pumper, nope! We aren't pumpers. We are just supporting our investment high risk high reward. It will surprise us with 20-30 folds because of two reasons, one that it will survive from Bankruptcy based on its statistical data and second even it doesn#$%$ a long way to go( 6-12 months) and many Market players will play numerous pump and dump before it becomes worthless. Good luck everyone.
That's my point too, there is something wrong here, small trader who entered now in PPS pulldown is really cheap. This needs attention of Hedge Funds to get involved who can #$%$ from there cheap traders and turn the game. This should ideally be traded 70 times higher, I won't be surprised if eventually some hedge funds will enter and pop it over a dollar. Its all games played by these manipulators, retail investors just get played by their hands.
I find it interesting that Stage Stores has sales twice that of Pacific Sunwear with a market cap 141 times that of PSUNQ. Not to mention, SSI's annual report only declared $3.78M net income from their $1.6 billion in revenue (data from Yahoo). This should give us hope that PSUNQQ is a bargain. To put it in comparison, if PSUNQ produced a measly $1.89M in net income then it should have a market cap of $104.83 million. That is 71 times more than its current level which would make the stock price $1.42 a share. I think Golden Gate Capital will help us get there.
Stage Stores (SSI)
Market Cap $207.78 M
Market Cap $1.47M
Low volume Price Drop with a small float stock: Last two weeks PSUNQ is suffering from low volume pull down, a thinly traded volume with price manipulation.
Small trader/s are loading it up for a big price move. It traded over its float volume,but it's average is 2m now.
Years ago, a successful businessman told me, “Where there is a problem, there is an opportunity (for the one that can solve the problem). PacSun has their financial problems but the fact that Golden Gate Capital and Wells Fargo are making a large investment gets my interest. Golden Gate does not appear to be a gambler, but rather wise investors that see a problem and an opportunity to solve the problem with a handsome return on their investment. Retail clothing is an area they have been very successful. Their investment in J. Jill alone produced a five-fold return.
With $800 million in annual sales PacSun is at least doing something right. The turnaround will not happen overnight but I have a good feeling that with Golden Gate in charge good thing will happen.
The fact that Golden Gate Capital is investing $20 million and Wells Fargo $100 million gave me reason to believe that Pacific Sunwear will survive. In addition to PacSun, retail investments sponsored by Golden Gate Capital include California Pizza Kitchen, Eddie Bauer, Express, Payless Shoes, Red Lobster, and Zales. This is just a small sampling of Golden Gate’s portfolio of successful turnarounds. For a complete list of Golden Gate’s portfolio go to their website and click on the vertical tab and you can to see their investments by industry.
Unlike many retail outlets that find themselves in bankruptcy, Pacific Sunwear filed for chapter 11 protection with a restructuring support agreement already in place. The deal calls for a debt-for-equity swap with Golden Gate. The San Francisco private-equity firm has a history of turning around apparel sellers.
Golden Gate acquired the retailer Eddie Bauer Holdings Inc. for $286 million in a bankruptcy-run process in 2009. By 2014 it was ready to sell Eddie Bauer to Jos A. Bank Clothiers for $875 million. The deal never transpired, however, and Jos A. Bank instead agreed to merge with Men's Wearhouse Inc.
Golden Gate also reaped a healthy return on women's retailer J. Jill, which it acquired in 2009 for about $75 million. Later, Golden Gate sold a roughly 70% stake in J. Jill to Bahrain investment firm Arcapita Bank. In 2015, Arcapita and Golden Gate exited their stakes in J. Jill, selling it to private-equity firm TowerBrook Capital Partners for about $400 million. Golden Gate made a roughly five-times return on the J. Jill investment, according to a person familiar with the situation.
Under the Pacific Sunwear deal, Golden Gate will convert a chunk of the debt into equity, and invest at least $20 million into the company after it emerges from bankruptcy. Prebankruptcy lender Wells Fargo also agreed to lend a $100 million revolver after Pacific Sunwear's emergence.
2 cents of my suggestions I have for PUSNQ shareholders that don't sell it cheap, HOLD IT. BK or NO BK, Share Cancellation or no Cancellation, it will at least go to .06 to .1 ( if not higher), someone is loading everyday with scaring retails. It will bounce 3/4 times in next 2/3 months.
Take a deep breath because I am about to tell you how I made A LOT of cash in the market
recently. Google “LionStockAlerts” and see for yourself…They have killed it for me
If you bought below $0.03, you're probably okay. Volume and volatility will probably keep this stock in the $0.02-.04 range for a while. Don't wouldn't get greedy and listen to the guys that are telling you this is going to run to $0.30 - it isn't. If you can get out break-even, take it and count yourself fortunate. Eventually this will be trading sub-penny as the date of share cancellation approaches. There are no buyers for these defunct retailers - their target demographics are young people with fickle tastes and thin wallets.
I lost a bunch on PSUN and learned, then made a smart and bought a fistful of puts on ARO, which turned out to be a good move, because they have followed in PSUN's footsteps to a tee. ARO will probably end up below $0.05.which means I will harvest 50% or better.
MMs pumped SSCCQ from .009 to $1.20, before shares got cancelled. would something like that can be here too?
Sentiment: Strong Buy