So, I now have a bunch of these sad junk CHKAQ stocks, since I have never sold any of my LTI CHK stocks, waiting for Santa Claus to manifest himself .....
Do you think that the Ch.11 proceedings will sweep then down to zero?
Or you think there is any remote chance that a post-bankruptcy CHK ticker jumps as WLL (Whiting Petroleum) did last September?
As corollary of the previous two questions, when do you recommend me to finally get rid of this garbage ?
6 replies (most recent on top)
This article explains in detail what will happen to your shares:
https://seekingalpha.com/article/4379066-bankrupt-chesapeake-energy-shareholders-need-reality-check-because-still-are-getting-no
As in all corporate bankruptcies, the equity is wiped out. The only ones that will get any money are the executives and bondholders.
I would hold unless you really need some pocket change. After thr 200:1 reverse split- not too much left on the table. Will someone buy the company out? Will there be a small amount of warrants issued in the new stock? Will there be fraud found or securities violations found? It is a gamble at this point. The company market cap equals Lawlers salary for the last three years.
I am holding to see if the court supports the company stock or Lawlers recommendations.
Either way - I hope justice prevails.
Sorry s—ers. My money is in CHKR. Who would have thought the Granite Wash trust would be the surviving CHK legacy.
Bruh...you serious?
It’s worthless after BK.All you have so is read the original filing. Common shareholders get nothing. Best time to sell it was yesterday. Good luck.