Slight miss on revenue
EPS beat by $0.02
Flat guidance
No major asset sale
Large noncash one time events
GOING CONCERN not removed
Company will be split into two business units
Reverse split will NOT be needed
4 replies (most recent on top)
$8.4 billion enterprise value, $645mm market cap. Seems sustainable.
Reverse splits shouldn't impact the value of the stock fundamentally, though it does provide an opportunity to buy $2.50 puts against CHK now and potentially add short sellers to the pile-on.
Most of the time, reverse splits only require board level approval. Give the alternative, CHK has to do it.
how can they do a rs w/o shareholder approval?
Going concern removed (thanks to some debt restructuring). Reverse split announced. Hang onto your shorts for RS, we’re about to lose more value.
Yee haw.