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The 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)
by BJones12 1y ago
The 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.