No way shareholders can get anything out of this bankruptcy, so why is it still trading and even up to 42 cents?! There are other energy stocks that haven't even declared bankruptcy that are trading for less. This is insanity and only drawing in the foolish.
Kyle Bass challenges Acorda patents is the obvious reason for the pounding taken on Friday (and continuing today). The above link is currently listed under the NEWS for Acorda.
Cramer's comment mentioned was over 8 months ago. Shortly after he changed his mind and said to sell, and been saying sell ever since.
Are you plain nuts or trying to sucker people into buying? In bankruptcy common stock holders will get nothing. So this is now just a playground for shorts. The shorts are closing out the shares they sold at over a dollar in the past. Then as suckers buy into this "short squeeze" they will turn around and short it at $0.80-1.00, then watch it collapse again below $0.50 before they cover and repeat.
"They" are the senior management and the BOD, made up of CEO's and such of company's that EMC's CEO is a member of their BOD. All inbred. And the mutual fund managers that vote the majority of shares are in it with the rest, I have no impact on who gets selected to a BOD.
I do have shares from the spinoff today. I can't believe it dropped $3.00 the first day, to just $21.00. A couple weeks ago said it was valued at $30.00. How meaningless.
"Arch Coal Inc. is under mounting pressure to get a grip on its dwindling cash.
The miner is saddled with $5.1 billion of debt and has failed to clinch a deal with creditors to swap existing bonds for new securities with longer maturities, which would help the company cut its obligations and ride out a commodities slump.
Now Arch is three weeks away from an $18.1 million interest payment on some of the bonds it wants to make disappear. With the company’s senior lenders not wanting to see that cash used up, they’re likely to pressure the company to skip the payment, according to Spencer Cutter, a credit analyst at Bloomberg Intelligence. That would start the clock on a 30-day grace period that would force the two sides to either reach a compromise or head to bankruptcy court."
ACI has been extending the deadline multiple times, for months now, so if this is such a perfect solution, why has it dragged for so long? Something is fishy.
"Analysts at Benchmark cut their rating to sell from hold following GameStop's quarterly earnings report."
That had nothing new to say that bashers hadn't said 8-18 months ago when this was down at 35. Pure manipulation, to let them cover their short. Why is this naked market manipulation allowed?!
With the crazy high volume, Soros could have sold out of his entire 500k+ shares today easily, and likely more than doubled his money. He's laughing all the way to the bank.
Today is last day to buy before going Ex-Dividend for the August divd (one of the last two divd's it will pay). Can expect min 10 cent drop tomorrow, since that's the dividend that will be lost.
You should also note that Cramer said to unload this since last October (2014). And has said sell every time it is brought up since.