You would think that even in BK the bonds would be worth more than that. They need to keep their cash to try and survive until coal prices get profitable again.
Probably will be 50 cents soon. Will it hold there for a while or will the price continue dropping to more normal pre bankruptcy prices?
WLT will not survive if coal prices do not turnaround. Outdated book value means nothing if you loss money mining their coal assets.
5 year low is well earned. Just amazing how bad they managed the holiday. Buyout potential and book value are the only things keeping the stock price as high as it is.
Stated inventory app. $78 million. Inventoried at cost. That would be around $100 million in sales value. Not sure how much they would normally have in inventory after Christmas but $78 million looks huge. They didn't mention an inventory write down so they must think their inventory is ok. Of course they just missed big on their recent past thinking.
With estimated earnings not looking good and the stock price dropping there could be some more selling from people bailing out. The only reason I could see to be a buyer right now would be if you are worried about missing a buyout.
Tax issues are not over. This quarter's earnings will be compared to last Dec's that included a $28 million tax credit.
Hit $14.00. Maybe I will sell only half. There is a good chance that TA will report excellent fuel margins and excellent pretax profits.
This business looks to be a real zero but management continues to invest in it and are doing their deals in a way that clearly looks out for the interest of current shareholders. I have never before seen major owners keep a company afloat with deals that were so unfavorable to themselves.
I will be buying more if it drops to $1.20 but that might not be the bottom. Not much love for NLST.
He can't prove he is honorable because he has already proven he isn't honorable by letting his loyal shareholders loss almost 90% of their value.
When this is announced will it move the price up? I want to get back in but am gambling that it will go lower before it's next spike up.
I think it might drop to $1.25 today and maybe even lower over time. I don't think the current case will be big money but it is encouraging and should keep the company going.