I called RH and asked them if it would cost to sell they said no. They just do not provide info on those type of stocks. I sold
....unfortunately it went up .02 after I sold lol that's like $40 but I guess it's better than the alternative
I had bought some at .126... I don't know how it will all go down, but it was only valued at about $50mil at that price; they may be going through bankruptcy but I don't know if they have to liquidate everything or anything like that, so I figured pretty fair risk vs reward.
I don't quite get where's the reward in it. Even if they keep functioning in one way or another, most of their shares will be reduced to zero. Not sure if holding them is a nice idea.
I dunno, we'll see. I didn't get a bunch, I think it will be more interesting to see how it plays out! I know for instance if you had AAMRQ, which was the bankrupt American Airlines @ $11.39 ($3.8 bil cap) you got .557 shares of AAL at about $26 ($15 bil cap) Something similar isn't guaranteed to happen, but personally I don't think SUNEQ will have to completely liquidate, and if it did, I think it might have more than $50 mil left over to pay even the crappy shares. It went bankrupt, but not sure how severe it really was.
I mean what's the point if the price per share will anyways be lower than that at which you've bought it? Or do you think it's really possible to go green from here?
Well if it gets to $1 a share in bankruptcy and I only get .13 shares per when it comes out, I'd still win out... or I could sell anytime in the next 12 months. I'm just betting on that SUNE will still be a semi-viable company in some form or another(not a Blockbuster or Sports Authority) and that me buying it when the market cap was $40 mil will somehow win out.
I'd be grateful if you could tell us afterwards how it turns up. It feels like a really awkward and risky idea, but I'd be happy to be proven wrong
Even though I'm out, I will probably get back in at some point with some small amount. It's two fold, one, I just want to see how it all plays out, and having skin in the game really helps that learning process... and two, I just don't think they are THAT bankrupt, like so insolvent that owning shares would turn worthless... this bankruptcy seems more to just restructure. They would lose a lot of investor confidence if they just chose to completely wipe out all the existing lower class share value.
Not that I don't agree with you, this might very well be a case of simple restructure. However, it feels like they've lost much of investor confidence by simply getting themselves into BK in the first place, don't you think so? So I doubt this would be the dicisive reason for them.
Huh, guess you might be right. Probably the most volatile thing on the market is investors' attitude.
