Ualaq $3.50??? Why

Discussion in 'Trading' started by imac76, Mar 2, 2004.

  1. imac76


    This is the exact quote from UAL's 10k filing....

    "We believe that UAL's presently outstanding equity securities will have no value and its expected that those securities will be cancelled under any plan of reorganization that we propose. For this reason we urge that caution be exercised with respect to existing and future investments in any UAL security."

    Why would someone buy this?