If a company trades for less than $1 per share for 30 consecutive trading days the process of delisting begins.
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Look at Sears that stock has been under a $ for months and they are still kicking.
Weatherford still has some good businesses that once after bankruptcy and rid of the debt cloud effect they will sell off and pay the bond holders as best they can. I don’t think the doors will just be shutdown and the value of those business lost.
Once bankruptcy has taken place, what will happen next? Will the administrators try and sell what they can or will the doors just be locked up and everything sc-apped?
I do believe Mark Mcollum through Mckensy group are setting the company up for bankruptcy. This is the only way out of this sh-t storm. This company is hemmoraging money with dumb a-- decisions being made.