RE: RE: Earnings Questions There is still some hope for this BB as there are very few who make scene & one can have a decent discussion with. I have not come across a BB that this bad. So much of foul language & limited input. I guess too much pain & frustration.
The company clearly has major issues. But the market has already priced in these issues maybe more. About a month ago it was trading around $15 now under $3.00 it has lost about 80 % of its value or a billion dollars in short time. There can be bad news events where some may react further. But most of the damage is done to the price.
The market knows that the dividend is gone. If there is any left it would be a penny or two. Few novice retail shareholders would expect big dividend or even any. If the company cancels the dividend & fixes the balance sheet then you may see investor confidence in the company.
The stock is coming to a price range that it may become tradable from time to time. After this tax /index selling is over there could be a oversold / dead cat bounce. Not convinced as a buy & hold there are some serious issues that have to be resolved one is the competence of finance department & outstanding AR. I imagine that there are more skeletons there. After Dec yearend books will be audited. We will have the auditors who will take a look at AR you will have an independent body forcing the company to make necessary provisions & disclosures.
I have posted my stinker bids. Waiting for a index dump. It is not going to happen today.