It appears that no one else wants to commit any cash to this either. They were profitable for the last quarter the filed. For sure they will show a loss due to write down of oil assets but that does not impact cash flow. Who knows? The company sure isn't saying anything
I don't remember seeing a stock priced at one cent even after the company declares bankruptcy. Obviously eventually the stock becomes worthless when the bankruptcy is finalized but in the meanwhile there is usually some speculation that causes the stock to trade up and down. So what is it then? The company is sure not saying anything and Apollo has not taken the step to completely write off the entire loan.
I wouldn't be surprised to see a partial retest of the 5.50 low sometime in the next week or two. The short sellers could make another run at it or the new longs from today may exit if there is any pressure.
Or restructure the loan with a more distant due date and a lower interest rate. Otherwise, there is bankruptcy in the offing which will not be beneficial to the lenders balance sheet.
They will kick the can down the road before next April. Apollo will not want to write this off as long as they can service the debt
Some of the biotechs and pharma companies my have been overpriced. This sector pricing is based on future earnings. How much do you think HALO would be worth if there is news that the phase 3 trials produced excellent results? Same with the other stocks as well. You buy at these levels looking for huge earnings later. Clinton is part of the problem with our current government - rob from the rich and give to the poor. My health insurance that I loved two years ago was cancelled for not meeting the new AHC standards. My new plan has a 6 thous deductible and the premiums doubled. Biotechs take huge risks to bring a new product to the market. If they are restricted in recovering their expenses who will want to look for cures for incurable diseases?
I thought this all started with the pharma sector when Hillary Clinton said she would rein in the profits on the pharma companies.
There is considerable activity in the August options currently expire on August 21st Until then expect these volativity
Brocade does not report for another month so there should be no preliminary results out for some time yet. The downgrade was more than likely a sector downgrade and not based on results from Brocade.
Yep. At the time I wrote that the volume was only 95,00 shares. On the plus side the stock has held at high 24's with increased volume.
I also bought on Thursday. I believe the value of the parts is greater than the value of the whole and it seems like Columbia is fairly priced. I believe the value of Ni will be determined in part by the future dividend.
I am expecting some who bought NI to capture the spin off will sell in the morning after they receive their CPGX.
I don't think this is personal. The "financial advisers" representing MCGC in the sale stand to lose their fees if the PFLT deal is not consummated. HC2 will not get anywhere with this unless they sue the board of MCGC.
Good luck with that. A short sale when the stock had it's last big run up was smart. Shorting now at these levels is not smart. There is support at $2.60 which leaves little downside.
Are you sure about that? The $2.50 level is support that has been tested several times the last few days and held. This looks more like a bounce off the support that will run all the way to the mid threes short term.