Am I right in thinking the share price has been less than a buck for 30 consecutive days? Does that mean the delisting process can (will?) start?
11 replies (most recent on top)
I've gone thirty days without a buck. When the deer gonna start moving, i need to fill my freezer.
Really? Going bankrupt is a separate issue from delisting.... besides there are several options for bankruptcy, not all of which are a liquidation of assets and closing shop. It may happen here, no doubt they are in trouble. Ultimately time will tel as we atchnit play out.
It’s 30 trading days (not calendar) which means December 21st is when delisting is triggered. Also, forget all the BS about google searches and plans as they are way past that. $1B of notes are due 2020 and bankruptcy is the only option left as they’ve kicked the debt to the end of their road. When that happens then it’s out of WFT’s control and the banks will then decide what gets sold and what gets shut down.
Bankrupt
Yawn....
tik tok
Hate to tell you but they do not have enough assets to cover. Much of their inventory is phantom- this one of their issues in not being able to supply customers and not having cash to buy what is needed.
I believe it has to be a public announcement. IMHO a reverse split will be a part of the plan IF Q4 results don’t show enough improvement to sway investors.
Huh? WFT not going to delist. They'll split 10:1 or 15:1 as every other company does when it goes under a buck for 30 days. Stock is just the market value, not the value of the company's assets, cash holdings, etc. WFT has enough assets to sell off an cover their liabilities but they're taking too long to do it.
Anyone know if the plan they submit will be public domain or otherwise available to stockholders?
No, a quick google search will explain how the process works. In a nutshell Weatherford has 10 days after notification of non compliance to submit a plan to get back into compliance. If this plan is accepted they will then have up to an additional 6 months before being delisted.