EXACTLY... when the unsecured bonds are trading at .13 on the dollar which get paid before any shareholder equity, there is no shareholder equity. NADA. Recent SEC filing clearly state that current common shareholders are unlikely to receive anything. I don't know why retailers are so blinded sometimes- I guess they all dream of "getting rich quick" and get lost in wild fantasies rather than digesting the facts. Today's action simply sucks in more naive buyers who will certainly lose 100% unless they gambled at .25 and sold at .30-.45.
Long term holders waiting for the reorganized kodak are toast.
The super longs preach many dollars. Many others say it will go to zero. Both stances have been mentioned for the last 2 years. Since nobody really knows the price varies radically. I have in my IRA a stock that the 500 shares are worth zero. It was like a Kodak type "turnaround" of 14 years ago. I purposely leave this 1000 buck mistake on y statement to remind me that "turnarounds and bankruptcies" sometimes fail. The super longs still worship the CEO Perez. Under his helm Kodak's stock has dropped about 130 X. Its dividend was cut to zero. He was being flow to Spain on private jets while the company lost money. Still many worship his rear end while he has ruined an icon.