no quick fix here....SNC needs to cut the dividend, find a new CEO and needs a significant equity raise.
This will of course dilute current shareholders are reduce NAV.
So don't think te 401 is going to save them.
I expect they need at least a Billion dollar equity raise to just begin to right the ship and give confidence
to the market they will survive.
There is no insider buying.
I would not risk putting a dime in this company until i see significant insider buying.
Caisse is not buying at this level.
Equity raise between $15-$18 will happen very soon imo.