even if they go bankrupt, then an orderly restructuring will take place, and since they have significant assets, the preferred should have considerable recovery value. if they have no assets, then it is worthless, but they keep showing all that acreage as having significant value.
so that means the pipeline and all the valuable acreage is now worthless? that means gas will be low forever? dude, there is only 600mm in bond debt. after that preferred's get whatever equity is left over. if they have 2 billion in assets, why would you think preferred has no value?
Im speechless. i just bought at 6.75. that is a par value of 50. 13.5 cents on the dollar. way below any recovery scenario from sale of assets IMO
if par is 50, and it trades at 10, you are buying shares at an 80% discount. If they suspend dividends- they are cumulative- and would be paid in arrears. Even if they file bankruptcy, I think a recovery value would be at least 20 cents on the dollar. To fall like this on no news ?
why would anyone buy copper wire customers if everyone is switching to cable/ internet phones, or other types of phone? why woudl verison sell them 6 million customers if it was good business?
novel idea but I don't think I would pay to tweet....JMHO.