Patriot Coal Corporation PCX

Bankrupt?

[peonica99]

Patriot Coal Corp. (PCX), the U.S. fuel producer that has lost more than $7 billion in value, has lined up financing ahead of a bankruptcy filing that may come as soon as today, said two people with knowledge of the matter.

The so-called debtor-in-possession financing is being provided by Citigroup Inc., Barclays Plc and Bank of America Corp., said the people, who asked not to be identified as the process is private.

https://www.bloomberg.com/news/2012-07-09/patriot-said-to-get-funding-ahead-of-possible-bankruptcy.html

Went down to .52 for a bit

[peonica99]

Probably a good idea to halt trading.

[Libertyg]

Well there's the unknown becoming known and slaughtering the share price. It's a whole new ballgame now. Instead of a good risk reward bet we have a crapshoot. This could all still end up well but it's going to be a mess for a while. Good luck.