Anyone else looking to profit from CCi's stock? Due to current circumstances, this should not be a core part of your portfolio but there is money to be made by buying the dips. There could be a 100% pop when they announce the new buyer. Even more if the buyer is well known and respected. Any price action below 15 cents peaks my interest. Most of the bad news is likely known so any future news will likely be to the upside.
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To 40032:
Very likely the stock will be delisted. In a previous life (just after 9/11) I was a stock broker trainee. Quit because I couldn't handle the stress.
When preparing for the Series 7 Exam, one of the requirements that I learned a company had to meet in order for it's stock to be publicly traded on NYSE is that the market capitalization had to be (at the time) at least $18,000,000.
The aggregate of value of COOC may or may not yet have dropped below that threshold, even the stock is worth pennies per share now. Time will tell.
Cheers!
I read yesterday on Money and Yahoo Finance that there is the likelyhood COCO will be delisted. They mentioned minimums not being met and several regulatory issue. Not sure the writers have ot right. But they also discussed dipping and COCO splitting the shares.
My observation after reading the 8k's and the articles. Not good. Has anyone noticed a monthly sell off of stocks of the key executives? Reviewing CCI filings, look at their shares and how many they have vs how many they have had.
Chapter 11, within 30 days
More bad news coming our way. That you can bet on.
All the bad news is likely known? At some point in the very near future you might expect to see this headline: "CCI Unable to Secure Buyer or Additional Relief from Creditors and Lenders, Files for Chapter 7 Bankruptcy". That may have a tiny negative impact on the stock price..... If you like to gamble, head for Vegas. More fun, more upside.
Lol!
Trading stock in a company like Corinthian should be done with two ideas firmly in mind:
1) In the long term, you cannot win you can only break even, and
2) You cannot win
Enough said!