surprise: rights up a bitI don't see how a company can get rid of more senior debt, rights, etc by blasting them with a devaluation of their supposed assets. Surely they would have better preferential treatment that that;
So assuming that is the case, i surmise that the common shares would dwindle lower.
But am not as astute as the rest of you.
Like BNN says; there are some good quality stocks out there that are devalued;
stocks like ICBC, or Enbridge, or CN. So if only i had any money left, why would i buy little juniors like PMT? But if you guys are dazzled by 5 cents a share, then buy away. best of luck.