It will be a while before it gets to 0. It will probably reopen at 10-20 cents in the OTC board. Then there may be a bounce or two before eventually being cancelled. There are still opportunities for those with guts. Personally, I won't touch it.
Especially our loss made your a fortune or your loss made us a fortune.
I was going to write my thoughts to explain why I decided to buy STP on the last day. The trade pattern of the last several days made me believe that there may be a great chance. Of course, the chance is not as big as TCM several years ago when I loaded a ton at $2-2.5 range, but it is big enough for me to gamble some. Later I then gave it up with some jerks. Why bother? It is better to make the bears without any sense of risk control and money management to feel they are 100% in control. Just stay cozy, and count your paper gains. Hehe
All I want to say is: This is a fun game. It may have ended already, or it may just start. Let's just watch and see who laughs in the end. Can we?
Have a nice weekend!
and insurmountable debt and no assets is great. and if they give all the debt holders an equity swap and dilute it like the pacific ocean that should bring out the real value. once this gets delisted it will be shunned more. its lost two thirds of its share price in the last week of trading. it either goes out in liquidation or a massive debt to equity swap. there is no way to pay bondholders, so either way the shares will be wiped out by liquidation or massive dilution from here.
They used all kinds of strategies to make sure Suntech. the best solar company in the world, does not survive while they kept pouring money to FirstSolar. This was a dirty game and I hope Chinese will not forget this lesson and next time protect their domestic industry.
paullaky, you call this a great company. a great company is one that makes profits. profits are the name of the game. this company was one of the worst run companies in the history of the stock market. every ceo in the world should study this as an example of what not to do. this was a great company to begin with and then run into the ground with foolish after fooloish move. as solar grew, the market was bound to become saturated with cheap products someday and margins would therefore fall, but they did not plan for that, which was a normal business cycle, no they took on more and more and more debt guaranteeing that when margins went down and profits were harder to come by, and competition would soar, they guaranteed themselves that debt would sink them. and they they partner with the italy solar and do not even confirm proof of existence of millions in german bonds, among other millions of foolish moves, stp ran themselves into the ground.
and now they are defaulting and can not pay their debt to the bondholders which must be paid before being stockholders. so they can either liquidate and shareholders will get nothing or do a debt to equity swap that will dilute the shares outstanding so much they will be virtually worthless.
and of course accounting is so $&&$·"=/$·" up that they have not even reported for years. they can not even figure out how much tey have lost. china forbid the old ceo from leaving the country he did such a great job. the stock has lost 99% of its value, so much for the objective of a public company to increase shareholder value. this is a textbook case of an epic failure.
and now they are a delisted company with hardly any business assets or chance to be listed on the big stock exchanges again. doomed to pennystockland and the otc market. they have done a great job of growing revenues, profits, and keeping the balance sheet strong and making long term investors share price increase. they wiped them out.
and you say a great company. ok
Too lazy to use Google translate.
Downwind insiders said the new Suntech photovoltaic may be divided into two - at 23:39 on November 1, 2013 China Times
Statistics show that Suntech Suntech Power is a wholly owned subsidiary of Suntech assets accounted for more than 90% was in the March 20 bankruptcy reorganization , and its assets, including P1, P2, P3, P4 plant and last year by the listed company to Wuxi the name of the town Jiangrong De Suntech and other domestic assets.
Suntech bankruptcy and restructuring management of external parties who are recognized downwind Opto will get P2, P3 two factories , P2 production component , P3 production of batteries .
It is regrettable that the highest value , fully automated plant P4 is not in the list. "P4 and Wuxi Suntech plant is jointly funded the establishment of the country , and the company continued to operate normally and in earnings , as a shareholder of Wuxi Guolian naturally not within the scope of the P4 on the acquisition ." Weber Institute for Information Industry , principal analyst Zeng Hai Wei told the newspaper reporters .
Information , P4 plant is not a wholly owned subsidiary of Suntech , the total investment of 450 million yuan, accounting for 40% of the shares of Suntech in Wuxi Industry Development Group and Wuxi New District Exploration Development Group will each own 30% of the shares, then two companies are Wuxi SASAC's integration platform . P4 600MW plant production line used in all automatic production lines, making it has the lowest production costs.
In this regard , the newspaper reporter called downwind photoelectric responsible person , the person to a meeting rejected a reporter 's interview .
According to sources close downwind photoelectric photovoltaic sources , P4 plant equipment a valuation can only reach 20 billion yuan, Zheng Jianming course, this is quite coveted, but because not within the control of Suntech difficult to get our hands on .
Now you are saying I never had proper eduction. How interesting? You started personal attack on me for several times, and I just ignored you. How low were you?
Also don't even bother to mention intelligence. I am very sure my IQ is way higher than you since I can get in a famous Chinese university and came to the states to work here. In fact, I have never met one that has better math than mine.
I mentioned several times before that I am not pumping this stock now. I am very cautious about it right now. It is you bears don't understand what kind of chances you are dealing with. I can tell you, STP is not fraud like others, the chances that it goes back is pretty high now. Almost certain it will approach 0? Let's wait to see.
I actually want an event like chapter 11 so I can load more cheap shares. If you read my previous post, I set my plan before to load more. Previously it was 0.5. Now I think I will load a lot more if it goes under 1.
Also using racial word also shows how low you are. There are stupid Chinese, and there are stupid Americans. Stupidity has nothing to do with the race. I think there is pretty high chance that you are stupid no matter what race you are.
Walt is a bear but I respect with him because he knows how to discuss with different opinions. Just learn a little from him, will you?
Hard to believe anything with this stock......everyone thought it would take a complete nosedive a few months ago.....still here though. Let's face it, it was always stronger then anyone thought. Don't have any position in it now, but I still wish it would spring back to life.
Lol. Like I said, even bankruptcy won't change your stance. Keep buying garbage stocks, we need people like you to create these opportunities and make them worth shorting.
Because it a live and great product and company- just need a reorg and capital to get us going!
Sentiment: Strong Buy
qiqi, don't even bother. some people just don't deserve your time. Long or short, we respect people's different opinions and open up our minds to hear both. But some people just don't deserve any respect. They probably have no clue about the Golden Rules of life.
Posted at OTCCbb system changes- daily list
Updated Symbol Company Name Effective Date
17:55 STPFQ Suntech Power Holdings Co., Ltd. 11/11/2013 From NYSE (STP)