I have one old "turnaround bankruptcy' stock in an ira that was not canceled back in 2000; it just got diluted to the moon. My 3 buck stock was in the quarter range then it skyrocketed to a buck. Then new shares got issued and now mine are worth a few cents then. Today my entire investment is worthless
Looks like those calling for common to not be cancelled were right
When did Kodak EXIT BK with the current stock? I don't see any news. Where did you hear EK is out of BK ? Where did they start making a profit and on what? WHAT GAME ARE YOU WATCHING? It is impossiblie for the current stock not to be cancelled before BK is done. The debt and liabilities are almost double the assets and the cash burn will never stop. The trades you think are people investing in the current stock are traders trading for profit on the bag holders.
Superbowl - "It is impossiblie for the current stock not to be cancelled before BK is done" That is a factually incorrect statement. Please google the term "reverse cram down" and see what you find. Please look at the recent Solyndra BK where stock was preserved over the objections of the largest unsecured creditor. It happens regularly in BKs. I'm not saying it WILL happen here, but your impossibility is statistically incorrect.
I must say the height of this rally is shocking. I thought maybe something crazy could happen and the stock rally to .30-.32 before ultimately being extinguished. I never imagined it could get this high. And it doesnt seem finished either.........
What a great short up here for bondholders. Thats most likely who is causing this short squeeze.