The deal that coco signed with the doe was designed to prevent bankruptcy not hasten it. It was the intention of the DOE to prevent
Corinthian Colleges from becoming unstable during the winding-down process. I've watched many stocks over the years bounce back from 52 week lows and made a lot of money in the process. I also appreciate the benefits of short-selling because it affords me the opportunity to purchase a stock at a lower price. I will never sell a stock for any reason once i purchase it until i've made a profit even if it means losing all of my money. For those of you who have long positions be thankful for the lower stock price if it is your intention to add to your position. Buy and hold is my advice. We'll soon make a profit!!
To say you NEVER sell a stock you buy, for any reason, is the mark of an amateur. You HAVE to be willing to sell. If you can't change with the fundamentals, you will lose as much as you win in the stock market, and your returns will be BELOW average, or even negative. Curring losses is critically important. (Mind you, I am also a huge fan of averaging down....but only when I should. COCO being one case when I was mistaken in averaging down. But I turned on a dime, when ED announced they were ripping the rug out from under these stooges.)
WSJ - "A Chapter 11 bankruptcy filing, which gives companies protection from creditors as they restructure heavy debt loads, wasn't a viable option for Corinthian because it would likely disqualify the company's schools from receiving federal funding and, thus, drastically reduce their value."
All monies made are going to be held for all the pending litigation to come. There will be so many student lawsuits and I suspect a separate class for teachers who were fired for refusing to alter academic and/or attendance records..... COCO bought Heald at top of the market.
You are brain dead if you cannot figure that a six month timeframe to sell everything results in much lower prices as the sharks swim in the water waiting for the carcass to finally die.