at Citi thinks the stock is worth $7. Geez!!
JPC holding firm after hours, nobody believes these crooks anymore
Why did Icahn wait for stock to hit $1 to make a move for the bonds? the answer is to gain complete control of the company through equity and bonds on the cheap and ride the stock up for a huge profit.
Now it is all retail shorting and these people will get burned when Icahn buys out this company for $5-6 share
and the stock breaks out like today
The answer is yes. He is attacking on both front, buying all bonds for $170 million (steep discount) and he will then offer $3-$5 for those shares he and his buddies don't yet owed. He will get the whole company for cheap considering millions in deferred tax credit. The guy is a genius.