No such thing as naked shorting...why cause I can borrow 10 million shares and pay nothing so..you pretend, but why? Even the liars are losing money today.
Going through that now, there was a time they only sat at Berry, but at this point they may have been consolidated, not sure yet. You can make a case at current strip that the unsecured are worth 9c to .20c. Gotta see new balance sheet. They are still trading with interestat 2c so like paying 4-5. Incredibe value destruction. I guess you saw swift 2nds are still debating equitizing.
Your a supreme cretin..hate to be rude...but its over...zero nada, zippo...forgatz.....bonds are trading at 100% yields for weeks...toast...
I use Interactive Brokers and Fidelity. IB for stressed and distressed seems better. Occasionally Fidelity takes access away trying to "protect" retail. For example 3 years ago, they took away access to Detroits bonds and now Puerto Rico. I had to use IB or a distressed trader I know. Detroti waters were a home run and I still own them. I suspect Fido will take away Chicago if they haven't already. Hope that helps. Please note that most brokers have taken margin away from most energy bonds, its 100% cash now.
Yes,, but its trading out of whack completely with its piers,, so either people like you are pure technical traders and will be smoked down the road or the company is about to be bought....but something isn't right..I hope they are bought..yes I am short but long the debt at 1/2 the multiple of the common.....take us all out..someone!
Wouldn't be surprised if these guys draw down their entire first lien like SDOC, seconds get crushed, Oh yeah the seconds are already 55c and the 3rds well...its .05
The companies projections show they currently have no ability to pay interest out of their cash flow, and interest paid to the banks is coming from the second lien DIP, when that runs out, if the prices haven't turned its the second filing. Banks may equitize a piece of their loan and demand the LA 50mm if that ever closes now. The plot thins for this fine pos.
These guys should be using their currency to do debt exchanges at a discount. Or do a secondary while the market believes this is viable. I own the debt at 73c 16%, short light the common...
Warrants have no value, at best they will be struck at .92c at worst $2.50. So they will trade for sub pennies. You can look at Citibank warrants for example way out of the money and they are at hundreths of a penny. Swift is no Citibank. The NOL will be chewed up on the debt forgiveness. BPY...they have filed financials with the Court, you need to find them and review.
The big wrinkle RB, is whether the banks agree to this deal. Just cause Terry and the bondholders say they are unimpaired doesn't mean its so. So we have yet to see that deal worked out & do the Dip holders convert to equity, blowing up the bondholders recovery possibility. No RB this is far from done. And of course there's the small issue of the Judge approving a plan that frankly should be unconfirmable. Why? Cause based on financials they have filed with the Court this won't make it past Sept and will refile. So, the wrinkles are numerous
Amazon stock should be less than 100. Just cause they spent hundreds of billions doesn't mean its worth anything. Just imagine buying and building a billion dollar hotel in Antartica..Nobody comes is it still worth a billion. NO. Amazon doesn't make money, NOR does Netflix...Yes I'm short both
Nah its always bad, tomorrow the pundits will say they can make money anytime they want and the stock will rally back to 600,, should it be 200, no, but its been like this almost from the beginning. And yes I have the original prospectus
Which is why they are selling their positions for 17c today, cause they believe they can get 100c later? Got it. Thanks for trying out.
You guys do know you can buy the bank debt too? Depends on your net worth and whether the lead bank will approve the transfer.