Everyone is saying the current stock which is trading at $1.20 is worth 0. Why isn't it trading there and will it ever? Shouldn't we all just sell the stock now?
Uncle Ho, I already provided you with a reason why the stock is not at zero now at this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=165036&perpage=6&pagenumber=8 In my opinion the stock will be closer to zero in the coming days / weeks, but that's just my opinion. You could sell the stock now, but if you want to short it, it might be hard to locate some shares to sell
The current stock will either be wiped out or the dilution is going to be so massive that it will all but be worthless. Trade it if you can make a buck on it, but do not hold it overnight.
When they go Chapter 11, wont the original stock be worthless and a new stock issued ie: GMGQ etc.. and the old one called GMQ.PK for 0.01? ?