Their losing money, that's why Cramer said it's a spec.
BBI is short term buy, but read this again:
If they come out with declining sale & cash flow next earning release, watch the price of those 2012 falls.
If Keyes can some some progress then thing will be OK for a while.
Come on, everybody knows it's worthless. So is GM, F, WAMUQ Delphi ect.
They trade on news until BK court cancels the shares. LEAR traded around .30 until the last day.
But WS is looking at the debt & continuous decline in sales & cash flow.
One good thing is at .25, it's already priced for BK.
Most believe they won't survive a prepackaged BK. More then likely the 2014 will get all & everybody else little or nothing.
Keyes will have to do some miracle here, of course a lot has to do with how much the 2012 BH will give in. I say it all depends on next quarter earnings . If business con't to deteriorate, nothing will save them.
BBI has plenty of play left in it (for at least until the next earning report). Slim chance, but it could end up like SIRI, but they will have to show a big improvement next quarter, which isn't likely.
They won't file for BK for at least four months. If they do file, it would probably be in the fall toward the end of the year. As you know, they just issued a PR stating they feel they have liquidity for the rest of the year, but if they show a big fall off in cash flow next earnings, this could force a BK by the end of the year or sooner.