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Sounds similar in theme with what happened to Hertz. I think at some point it was bankrupt but speculation still had the share price way above what it was worth
by mettamage 1y ago
Sounds similar in theme with what happened to Hertz. I think at some point it was bankrupt but speculation still had the share price way above what it was worth (nothing).
- BJones12 1y agoThe original shares ended up being worth $8. There might have been a point during the bankruptcy were they were worth nothing (due to changing used car values) but in the end they were worth something. https://nypost.com/2021/05/12/hertz-investors-snag-8-a-share-in-surprise-bankruptcy-win/ https://nypost.com/2021/05/12/hertz-investors-snag-8-a-share...
- mettamage 1y agoYea but that's the thing, if a company is bankrupt, shouldn't it be 0? Like rationally? In that sense, it feels thematically similar as people were trying to outsmart each other with trickery.
- BJones12 1y agoRationally, I agree. But IRL it's surprisingly hard to measure the value of a company - both the assets and the value of continuing operations - even without considering they are in constant flux, even if there's no trickery.