sold most at 0.44
$Spirit Airlines (SAVEQ.US)$ Have to keep some shares not to violate company policy. thank you shorters. I’ll buy back my position when this shit gets back to few cents in a week. I am optimistic that shareholders will be treated fairly to some point. But 0.44 is juicy…
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CFA, FRM, P-Quant。然而自己投资并不量化…个人投资观点，不代表供职的银行或客户（反正我看不到）。不提供投资建议。
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RmacFL : I would like to share your optimism. what makes you think common stock owners will get a fair shake ? maybe the judge overseeing the Chapter 11 will advocate for shareholders?
不要骗我没文化 : I'll sell all at 0.435.
QMengColdJoke OP 不要骗我没文化 : Yes. Although it's very unpleasant, there's no need to hold on to it. I have 300 shares left that I can't sell, so I just put them in there and can also see the announcements. When things calm down, I can get a few cents back and try my luck.
不要骗我没文化 : There will be no more miracles, I don't plan to make up for it. Just lost.
QMengColdJoke OP 不要骗我没文化 : Yes. Anyway, if the class action lawsuit wins, you will get compensation whether you sell it or not. It's better to run early.
QMengColdJoke OP RmacFL : Plan and what will happen kindly see my post yesterday. (not a lawyer but just to what I saw) In UK law, debt owners are also considered part of company. Management is liable to both debt and equity. but in US, debt owners are treated as outsiders. only stock holders, preferred stock holders are considered as owner (convertible as potential owner). Management is only liable to shareholders. Unless puttable, debt owners cannot take action unless a default. So in practice, common practice is issuing a lot of new shares to buy out debt.
QMengColdJoke OP RmacFL : I was Venator shareholders. UK company. They did the same. But it was led by 35% shareholder (who owns a lot of debts) who is effectively controlling in proxy and board (etf and mutual fund always vote for). In the end, they have to issue a lot of new shares 0.01 cent a share （controlling party can do that). Then Reverse split like 13k shares to 1 to really remove old shareholders. However they have to buy out fraction of shares in market price like 1 cent . But SAVE doesn’t have such controlling interest…
不要骗我没文化 QMengColdJoke OP : Do you know the information of the litigant? I want to join.