averaged down my 0.61 i was holding to 0.36 after hours yesterday...i think a lot of this was overreaction and really only 1.5M shares made this stock go from 0.67 to 0.27. real volume should correct...i think if there was more panic there would have been a lot more volume AH yest, PM today
Bankruptcy means all current shareholders will be wiped out. Look at GM. They wiped out generations of shareholders, folded the old stock and started again with a new IPO and new shareholders. You are seeing the ugly side of Capitalism.
It depends on the company and the situation. That may be true but it may not be true. It is terribly disingenuous to state that all shares will be wiped clean when this information is not available. Anyone who holds today will not be worse of if they are wiped out tomorrow but if the company pursues a route that doesn't wipe out shareholders, those who sold today won't be able to participate. Everybody: stand pat and don't freak out today. Let this play out. The news is not good but we don't know that these shares have zero value.