By the way I would be a buyer if they file Chapter 11. It would be risky but I see ways that shareholders could retain their interest in this proceeding notwithstanding all the pundits saying the shares would be wiped out. If I can get them dirt cheap, I think it would be worth a flier
Well generally the stock would continue to trade although not on the NYSE. Some other OTC exchange. You are correct that the attachment would be dissolved and NAVB would have access to its funds subject to NAVB providing "adequate protection" to CRG. In this case that would typically involve keeping its Security Interest in Place, granting CRG a post petition lien on all post petition cash proceeds and paying interest payments on a timely basis.
You're numbers are probably accurate although if I were a shareholder in NAVB you have some very good arguments as to why your shares should not be cancelled. It's a unique situation from a bankruptcy perspective but in will be imperative that shareholders get representation that knows what they are doing. Chapter 11 is incredibly powerful for the debtor and creditors who are well informed. In many respects a lot of what you see happening to shareholders is because they don't fully understand the process or their rights, In fact that is what the Debtor sometimes counts on more than anything
if you made 1800 today trading bac then im jesus. based on your picks i doubt youve made 1800 in your life
how exactly did that happen. when a 14 dollar stock goes down 2.25 in two days the fact that it recovers 1 dollar is not exactly stellar.
It's good to see you haven't changed BAC. You remain A Legend in Your Own Mind. By every objective measure you are an idiot but as long as you keep drinking your own kool aide all the power to up.
How many times have you said that in the last 5 years. I've heard that so many times you can't be taken seriously. I think there is a reason you erase all your posts. I think this is it. So no one can see all your previous ridiculous statements.
LOL. Good to hear from you. Wrong as usual but I feared you had died. I need a good foil
You are absolutely wrong. Experts have already pegged a 10-20% impact on earnings (to the downside) over the next several years. Currency losses, additional costs of Doing business in europe. No increase in interest rates now for probably another two years. These all negatively impact the big banks. Thats what is happening here. Decrease BAC's earnings projections over the next three years by 20%. Factor in negative growth, the risk in europe the uncertainty in the united states and you have a 5 dollar stock. It has a lot more to fall
People wonder why BAC reacts much more harshly than other banks to bad news. I'll say it again. BAC IS THE WORST OF BREED. IT's a horribly run company. It has had ZERO growth in the last 10 years. It only has been able to earn any money through cutting costs, it has a lawyer at the helm of a business who has no clue what he is doing. It would not surprise me to see this back at all time lows in the next six months. Single digits are a certainty. The only question is whether it will get back down to the 3 dollar range or hover between 6-8. People say "buy this stock and sock it away for 10 years". Will with BAC you can make the same call except it would be "short this stock". You have ZERO RISK of this ever hitting 15. ZERO RISK
Hey BAC trader just checking in. I don't really follow BAC anymore after the beating and slap down you gave me about how I don't understand BAC stock or day trading. You know when you called me a fool for shorting in the 15s and 16s because BAC was headed to 25 by the summer of 2016. you know when you b**&h slapped me for not understanding how BAC was trading in a channel and that you make tons of money on the trade everyday that I couldn;t understand. That one got me good. So I'm just checking in to congratulate you again on your find call and expertise in trading. You are the trading god I can only dream of being.
Oh I know it's only these unforseen events that have prevented BAC stock from reaching your goal. In fact just getting up in the morning seems to be an unforseen event that prevents BAC stock from going up in the morning. In fact, Brian Moynihan walking into his office everymorning I think is an unforseen event that keeps the stock down. Anyway, see you at single digits in a few weeks. My calculation is that the Brexit will cost BAC about 15 cents a quarter. Figure that into BAC's EPS and you have a stock that is worth about 4 dollars