The stock is crashing and the lenders are calling in the debt. They want to get something before it is all gone. We will be bankrupt by the end of the week.
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The stock (way too low) will be first delisted from S&P 500, in this case, institutions will have to automatically dump the stocks from their holdings, which will further crush the stock dramatically. This happened to Foster Wheeler in 2003~2004, which finally bottomed at $0.75 a share. After struggling for couple of years, FW reverse split the stock 20 for 1, to $15 a share, looked nicer but the market cap remained the same.
mo--n - debt is on term - they arent ‘calling their debt’. Go to school.
How can i get a severance package before this thing burns down?
This is the real question you all should be asking yourselves
Serves them right, all executive management does is worship money. Not engineering and quality. The money will come if you do the right thing.
Pigs get fat, hogs get slaughtered. Can't fix stupid.
Banks probably forced the sale of SPS and pipe fab
It needs to go below a dollar before trading is halted. But I had one company which went down to 58 cents before the folks did a reverse split of 1:15. It didn't help much either other than the face value.
How can i get a severance package before this thing burns down?
They only halt trading on stocks which affect the indices. This will go Down by 70% by close
Sadly, once a company is in bankruptcy employees who are laid off are added to the list of creditors for owed wages and benefits. Payouts then must be approves by the bankruptcy court.
Does anyone know how low the stock must go before they halt trading? I'm worried we will all have to find another job very soon. If they do file for bankruptcy will we still get severance?