Thread regarding Chesapeake Energy Corp. layoffs

Ahead of Schedule

Looks like my (numerous) predictions on this board that CHK would be a penny stock before the end of the year have been realized ... a couple of months early (and yes, lots of people laughed).

Next Stop: Delisting

Way to go, "cream of the crop" employees! You were so busy throwing stones each time employees (who were actually valuable) were laid off. But now your comfy office finds you looking out the window wondering whether your karmic hubris might be coming back around to pay a visit.

It's only a matter of time and that time is short, so don't get too carried away with your Christmas shopping. Karma is a real b i t c h , especially when it comes in the form of a credit card statement each month and your head is still spinning after unboxing your belongings. I worked in HR, so I should know.

Me? Well, as you've probably already guessed, I got out under my own terms after seeing what the REAL Chesapeake culture had become. Fortunately, I had the foresight to unload my CHK shares at about $5 in June 2018.

Merry Christmas!

by
| 1901 views | | 3 replies (last November 9, 2019) | Reply
Post ID: @OP+11UuoZ7G

3 replies (most recent on top)

CHK has been a penny stock since it fell below 5$. 5$ is the cutoff for penny stock these days.

by
| | Reply
Post ID: @2ixk+11UuoZ7G

Bankruptcy usually results in outstanding stock shares being "canceled," as it were, since creditors (bondholders and other lenders) get paid before common stockholders. And in the highly unlikely event that shareholders do participate in the re-org., their shares would be massively diluted. Considering CHK is currently at $0.90, the shares would, for all intent and purpose, become all but worthless. (Although I suppose you could request physical certificates from your broker and use them for an interesting wallpaper effect.)

by
| | Reply
Post ID: @1mva+11UuoZ7G

Watch, role reversal. CHK is going to pull a Sandridge. Devalue the company assets until demoted to pink sheets, file bankruptcy, pay back banks to remain in good standing, screw shareholders........in about 2 months you’ll see the new CHK stick listed at $19.50 a share and in good standing with the banks for future borrowing and bad investments!!!! Total scam headed this way.

by
| | Reply
Post ID: @doq+11UuoZ7G

Post a reply

: