I agree that they made the best case yet for bankruptcy, but I disagree that the stock is a good short candidate. The risk/reward isn't there. You're basically betting 1.50 per share that the company files for bankruptcy, but if you're wrong, the loss could be, probably would be, much greater than 1.50. Not saying the article is wrong, just saying there are plenty of better short candidates out there.
probably right - the biggest gains have been already made on this one - while I agree with the conclusions of the authors I am reluctant to short the stock or buy puts at these levels. Albeit the probability of a tender offer or at least a debt-for-equity-swap looks very low here I would not rule it out completely. Will just watch the scenario developing .