sells for $53.00 a share now, BUT my stock is only worth 11cents a share. WHY? I bought the stuff when they were in bankruptcy and took a chance with them. Its an aluminum company out of california. Why isn't my stock worth $53.00 why is it stll a 'penny stock' when the company now sells for more?
2006-07-11 19:23:35 · 4 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
The short answer is that when a company is under bankruptcy protection, everything is put on the table. To re-invest does not mean to recapture worthless stock shares which were made worthless by a court action. As long as you hold the pre-bankruptcy stock, it will appreciate just slightly, honoring the court protection. That way, creditors can't rush in and buy a lot of stock for $.05. That would require another court ordered protection and the people holding expensive shares will have shares worth $.11.
2006-07-11 19:36:51 · answer #1 · answered by Calvin of China, PhD 6 · 0⤊ 1⤋
i do not know that is not good you might ask a financial advisor
2006-07-11 19:29:44 · answer #2 · answered by osu_otter 2 · 0⤊ 0⤋
just sell it
2006-07-11 19:27:09 · answer #3 · answered by chamberportal 2 · 0⤊ 0⤋
why are you complaining you doubled your money
2006-07-11 19:26:37 · answer #4 · answered by ? 6 · 0⤊ 0⤋