For US IDIOTS that did not bail before the damn BK, I am trying to decide best option now:
1. Sell now because there is no guarantee that the common will not cancel out in the BK package and
a. Move on and try to make up elsewhere.
b. Re-enter HK after its all over with at a good entry point and hope for a turn around to catch money back
down the road when oil recovers. (risk here is another huge re verse split to maintain compliance with the
NAZ exchange AND history shows that R/S usually erodes the shoe price cause it gets shorted a lot right
after the R/S.
2. Hold and hope that the common gets the 4% (gamble) and continue to hold and hope for a turn around
where it would eventually rise above a dollar a share with our a reverse split.
a. Risk here is you hold and the common gets cancelled out and end up with NOTHING.
b. If common gets the 4%, risk after is another huge reverse split reducing shares and gets shorted and price
erodes before we see an oil turn around.
THOUGHTS ON THIS ???
So, it seems to me that the safest play if you are still holding is to sell now (incase commons get nothing later) and then buy back in once all is final if we want to bet for a turn around?
Would the "old shareholders" that choose to hold have option to hold their shares once restructured and hope things turn around ... or is the deal a cash payout at 26 or 33 cents a share the only option?
the CEO is a #$%$. He is trying to buy the company for pennies on the dollar and screw the shareholders. WHY? So he can go to a different exchange, go public all over again and make his hundreds of millions all over again in his personal pocket. He never ever did care about shareholder value... only his own personal wealth...PERIOD
TRANSLATION: Hey guys, I was stupid and I shorted FB. Please sell your shares and go short so the momentum can stop and I can save my home and shirt on back.
translation to this stupid short's post: I shorted Fbook, and I am desperately posting lies to try and stop the move upward because I will lose everything I have, all because I was ignorant.
I hope some of them lose their shirts, wives and homes over all the bashing and lying they did for the last week !!!
Because they have already been TOLD that earnings will not be spectacular, so they will wait for the drop to buy. Typical WS system where they BIG BOYS already know and the retail investor has to wait for the release. :( and the SEC never does anyhitng except watch porn all day long on the tax payer's dime.
translation for this post is: ... I am stupid and I shorted FB, please sell your shares so it can go back to 70 and I can save my home, my marriage and my life!