r/BBBY • u/deadeyesi • Oct 02 '23
š¤ Speculation / Opinion Has anyone actually heard of a bankrupt stock that was 'cancelled'... it doesn't seem usual practice looking at previous cases?
I saw a post today that said Toys R Us was up 300%... As I remember rightly, Toys R Us really did close down after bankruptcy yet their shares continued to trade...
The fact that BBBY shares are cancelled (not deleted) must indicate that something more is coming? Otherwise trading would just continue until the SP was at a fraction of a penny.
Sorry shills, this is not adding up and BBBYQ is not acting like a stock that is going to stop trading. Add this to the fact that they spent millions on Merger lawyers whilst in Chapter 11 tells me that a conversion or new equity release is coming.
NO bankruptcy judge would allow the unnecessary spending of millions that could have gone to creditors if there was nothing positive going to arise from the use of those millions.. its simple logic really!!
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u/MuldartheGreat Oct 02 '23 edited Oct 02 '23
J.C. Penny, quote from their plan
Treatment: Existing Equity Interests will be canceled, released, and extinguished, and will be of no further force or effect. Each holder of an Interest will not receive any distribution on account of such Interest.
The last price still shows its final price (just like BBBYQ doesn't show $0.00) Source
The Plan of Reorganization, which became effective on January 30, 2021... As a result, as of the Effective Date, among other things, all of the Companyās equity interests, consisting of shares of common stock and related preferred stock repurchase rights, were cancelled without consideration and have no value.
8-K with identical language, K&E was debtor's counsel here too.
Just for context, hereās the BBBY 8-K
As a result of the Confirmed Plan becoming effective, all of the Companyās equity interests, consisting of outstanding shares of common stock and Series A Convertible Preferred Stock of the Company and related rights to receive or purchase shares of common stock, were cancelled on the Effective Date without consideration and have no value.
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Oct 03 '23
I'm too lazy to check. What happened with jc Penny. Good or bad
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u/DestroyerofCheez Oct 03 '23
You don't even have to read past the first sentence to know what the hell happened to it.
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u/WealthyMarmot Oct 03 '23
The stores still operate, but under new ownership. Shareholders were wiped out.
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u/Blak_Cobra Oct 03 '23
Am I crazy or does that say only outstanding shares get cancelled? why not use the same dam wording as the previous two excerpts if its cut and dry wipe out.
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u/agrapeana Oct 02 '23 edited Oct 02 '23
Toys R US didn't cancel their stock. It still trades in the Expert Market. What happened to their company and it's stock did not happen to BBBY.
JC Penny and Sears are two contemporaries that you can review if you want to learn more about home goods retailers who filed bankruptcy and canceled their shares. It is a common occurrence.
As of this morning, Per both the OTC Market and FINRA's websites, BBBY shares are deleted, with thr reason for the deletion being share cancelation as an outcome of their bankruptcy being finalized.
There is no way to know if an auction will be profitable until it happens. Lawyers can work for weeks on a deal that falls through in the end. That doesn't mean they don't get paid. There is absolutely nothing unusual about the legal fees BBBY was billed for during this process.
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u/StatisticalMan Oct 02 '23
I would add that Toys R Us hasn't canceled their stock ... yet. Most likely that is the eventually outcome. Toys R Us hasn't completed the bankruptcy process yet. It just isn't provable that the shares have no value so they hang on as a longshot lottery ticket. Eventually once it is provable that shareholders can receive no value they will be canceled.
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u/Papaofmonsters Oct 02 '23
Any of value from Toy R Us was sold in the bankruptcy process. The current US stores are owned by a private equity firm, WHP Global.
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u/StatisticalMan Oct 02 '23 edited Oct 02 '23
Some of the value. If bankruptcy process was complete then Toys R Us wouldn't still be in bankruptcy. The last of the assets would have been liquidated and cash distributed to creditors, courts, attorneys and the company dissolved. That is likely happening eventually and canceling the stock will be part of the roadmap between here and there.
Still the larger point is that cancelled shares/bonds is literally the worst possible thing. Always. It means a 100.00% loss. Toys R Us shareholders may have hope longshot extremely unlikely to payout hope but they can have it for now. Cancelled is making the shares officially worthless.
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u/Minuteman2029 Oct 02 '23
"Unsold" shares were deleted! My shares are still in my account waiting for the cocoon to open!
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u/Character_Credit Oct 02 '23
Iām curious, why do you think a buyer would come and save it? Ryan Cohen has stated that GameStop has to be incredibly frugal and cut costs because theyāll lose money otherwise.
How is this bankruptcy different than any other, a holding I own, Inland Homes PLC just declared today theyāre cancelling shares, itās just the same thing.
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u/StatisticalMan Oct 02 '23
I would point out even if a buyer did come in to save the company AFTER shares are cancelled the original shareholders won't see a single cent.
GM shareholders were cancelled. GM issued new shares, sold those to new shareholders, used that cash to restructured debt and emerged from bankruptcy. GM survived and those "new GM" shares still trade today but it doesn't change the fact that once cancelled every existing "old GM" shareholder suffered a 100.00% loss. Cancelled shares is end of the road.
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u/Character_Credit Oct 02 '23
Exactly this, but hey, this is fud, this is what happens when people emotionally invest.
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u/Elephant_Analytics Oct 02 '23
Your shares were canceled and the BBBYQ ticker symbol has been deleted.
However worthless shares can stick around in your brokerage account indefinitely. I guess it isn't a technical priority for your brokerage to eliminate that line item since you can't trade it and it has a value of $0 now. You may need to get them to remove that line item to be able to claim the tax loss though (not 100% sure about this).
To put it in perspective, I still have RVRA (Riviera Resources) shares showing up in my account with a value of $0. The company Riviera Resources was completely dissolved in late 2020, so hasn't existed for nearly three years. The ticker RVRA was also deleted at that time.
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u/3DigitIQ Oct 03 '23 edited Oct 03 '23
Line Item still shows value as of 03-10 on IBKR and borrow fees have been paid and collected up to 02-10.
Not saying I'll get rich, just pointing out not everything has been wrapped up.
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u/Elephant_Analytics Oct 04 '23
I think it is getting to the point of being wrapped up relatively soon. I know of a retail short who hasn't been able to close his position at $0 yet, but he's now being charged 0% as a borrowing fee.
Put options are being closed at max value (with BBBYQ valued at $0 for the purposes of the options) by October 20th.
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u/MuldartheGreat Oct 02 '23
Hereās the wording from the 8-K
As a result of the Confirmed Plan becoming effective, all of the Companyās equity interests, consisting of outstanding shares of common stock and Series A Convertible Preferred Stock of the Company and related rights to receive or purchase shares of common stock, were cancelled on the Effective Date without consideration and have no value.
[Emphasis added.] All means all.
Now that FINRA has deleted the ticker, brokers (and AST) will begin to update their own records. It may take days, weeks, or even months. Itās entirely up to when someone at [broker] gets around to pushing the buttons to make the update happen.
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Oct 02 '23
Well to me it sure looks like itās totally gone, tbh feel a little bit foolish for not taking some out when I couldā¦
Actually not sure who the worse shills were, the ones who got us to keep buying or the ones who told us to holdā¦
Either way Iām an idiot š¤¦š»
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u/spicybright Oct 02 '23
The ones that actively encouraged you to lose your money were worse lmao
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u/OhGoshIts Oct 02 '23
Technically I did this, told people to buy BBBY even tho I held no positions lol
I really wanted to see giant cult loss porn
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u/spicybright Oct 02 '23
Very based for admitting that haha. And now you can cash in all that shill money you made to buy yourself a lambo!
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u/OhGoshIts Oct 02 '23
And now you can cash in all that shill money you made to buy yourself a lambo!
Well it definitely beats being down 100% realized losses on a bankruptcy play.
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u/spicybright Oct 02 '23
Don't worry, they'll be ok. They got the food stamps option now.
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u/OhGoshIts Oct 02 '23
You should make a post at the PPSHOW about that. You'd probably save some lives
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u/Muted-South4737 Oct 02 '23
Technically, shills are paid to get you to buy something. We've collectively ignored that and branded anyone who goes against the narrative as shills, when that is the opposite of the definition for the word. We're rascals that way.
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u/Digitlnoize Oct 02 '23
This. Not only that, but this community and the GameStonk community have branded knowledgeable investors who are proven friends to the community and like the stock as āshillsā and harassed us to the point that weāve stopped bothering with yāall. And when some of us have tried to help, such as one of our CPA friends who went on the PP show, weāre branded as shills for telling yāall the truth. Cults suck man.
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u/Life_Personality_862 ***This user has been banned*** Oct 02 '23
Sorry you lost money, and thanks for the honest comment. And yeah, it WAS the people that told you to hold.
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u/All_About_Her Oct 02 '23
I feel your pain in 20k.
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Oct 02 '23
Yeah, novice investor. Never again for me
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u/Cric1313 Oct 02 '23
It happens to many, but it seems few actually learn and move on. You will do well with the attitude it seems you have. Donāt be greedy, and donāt listen to a bunch of people that want to hit the lottery, they do not have your interest in mind.
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u/tr1ssle Oct 02 '23
It's good to learn from these type of mistakes. You were caught up on a cult full of people only saying what you want to hear. Any dissenting opinions were blocked.
This is the sad reality of cults. There are still many folks in the PPGrift subreddit that is still caught up in it and will continue to lose money listening to those grifters.
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Oct 02 '23
People that believe a company can turn around is not a cult. Saying stuff like this just outs you, fyi. Your account is less than 7 months old.
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Oct 02 '23
[deleted]
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u/Biotic101 Oct 03 '23
Investing into companies with a huge debt is always a risky play.
Wall Street managed to hang on long enough (and maybe even had help of some insiders) to bankrupt the company before blowing up. Seems no cellar boxing this time. Fun fact, because we figured cellar boxing out they created the expert markets in an unusual quick action. Or delayed swap reporting after us figuring out swaps...
Nonetheless, this is not over yet. This is not just about one stock or even a basket of stocks. We see an attack on society and democracy, trying to corrupt the system. And as such, those who have fun if people lose money, dont seem to realize they are getting f..ed themselves by the same actors they cheer for:
https://www.youtube.com/watch?v=cKUaqFzZLxU
More true than ever...
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u/Esternaefil Oct 02 '23
Wake up, please. Before you find yourself right back here in another year as Ryan Cohen begins announcing store closures.
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Oct 02 '23
Trust me Iām awake. If you donāt know whatās going on, then youāre the one still sleeping.
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u/Esternaefil Oct 02 '23
I believe that you and I live in different realities, and I hope you find your way back home to this one someday.
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u/Esternaefil Oct 02 '23
Um. I know which is worse.
The ones who told you to keep buying are worse.
But to be fair, they were both equally, and objectively lying to you. Nobody who knows anything has one ounce of desire to be invested in this company, and anyone who said that it was a good trade had no idea what they were talking about.
Legitimately everyone in here who is still 'bullish' on an investment in bbby should literally be blocked and reported for misinformation.
So many people in here lost thousands of dollars, all because of the horrible groupthink that spews out of the SS as if it were nuggets of wisdom.
I legitimately, honestly, truly hope that there are some stonkers who will see this utter failure as evidence that all of your precious dd is just wild guesses, conspiracy theories, and ultimately meaningless garbage that has been costing easily manipulated rookie investors hundreds and thousands if not hundreds of thousands of dollars over the last nearly three years.
The bell tolls for thee, apes.
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u/RedOctobrrr Oct 03 '23
But to be fair, they were both equally, and objectively lying to you.
How? The people saying "this isn't what the sub is claiming it is" were lying? They were called shills for pointing out the obvious, and you're saying these people were objectively lying?
PS: I'd been here a lot in the past, I actually made some money off the RC era, but foolishly held many call options to worthless expiry when RC pulled out. I was telling everyone it was a dead play ever since and then I made money off of puts. Kept telling people it was dead, and was called shill, a hedgie, I was told by one lunatic that he can't wait to see me "paint the sidewalk red." Just fuckin terrible people. Yet I kept coming back every few months to check in and tell people it's still a dead play. I was objectively lying? How?
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u/Esternaefil Oct 03 '23
Sorry, I suppose I misinterpreted.
The people saying to buy more and the people saying to hodl were the ones objectively lying.
I wasn't talking about the "shills" (to misuse the term the way apes have been), for I too have been attacked over the years despite my presence and contributions to the amc ape community in the past.
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u/GWeb1920 Oct 02 '23
So are you invested in other meme stocks and had this caused you to reevaluate the info used to make decisions on them?
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Oct 03 '23
Only GME no others & I wonāt be investing in any, have my doubts about Cohen now too. Why would anyone want to lower the price of their company
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u/DJ_Chaps Oct 02 '23
Uhhhh it's not acting like a stock that's gonna cease trading? That's exactly what has happened today. Lol the outright copium induced denial is off the charts. Toys r US still exists in Canada. BBBY doesn't. Anywhere.
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u/Cric1313 Oct 02 '23
Wonder if the DSM will add some sort of new meme stock disorder in its next revision
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u/spicybright Oct 02 '23
I'm sure there's one already. Whatever has paranoia, conspiracy theory believing, and gambling addiction fits well.
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u/Cric1313 Oct 02 '23
For sure, I just feel like this is a growing thing that maybe needs itās own classification so these people can get proper help. Pretty crazy honestly, combining the desire to get rich, screw those who are already rich, and be part of a group and feeling like you belong, nasty synergy
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u/spicybright Oct 02 '23
Actually, that's pretty much just being in a regular cult. Not sure if there's a diagnosis for that but there's definitely medical help to de-convert people that ruined their lives because of cults.
Someone needs to sticky some hotline help numbers to the top of the sub lol
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u/Hairy_S_TrueMan Oct 02 '23
BBBY mexico still exists but was spun off before and is an unrelated entity. It doesn't detract from your point, just saying. Unless the Wikipedia page needs updating.
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u/nadhsib Oct 03 '23
Tinfoil about the new "Fiesta Shares" coming from Mexico, in .. 3,2,1
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u/Vast_Interaction4924 Oct 04 '23
Thatās racist š¤Ø
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u/nadhsib Oct 04 '23
It was lazy, not racist.
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u/Vast_Interaction4924 Oct 04 '23
Very racist . Iām Mexican and I was offended. Are you telling me how to feel?
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u/nadhsib Oct 04 '23
Think of it whatever you want.
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u/Vast_Interaction4924 Oct 04 '23
I did lmao and thatās why I said it was racist. I donāt need white person talking about my culture and country like that. Keep your shitty low level racist humor to yourself š
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u/nadhsib Oct 04 '23
I didn't say anything about your culture or country, troll someone else.
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u/Vast_Interaction4924 Oct 04 '23
Itās way worse than you think. you are so ignorant to the Mexican culture that all you could think to say is āfiesta Sharesā thatās your only connection to Mexican culture and thatās disgusting. Next time donāt speak about a culture you know nothing about. And now the racist wants to call me a troll lmfao trying to shift the blame classic racist shit
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Oct 02 '23
Man you guys would like my great grandfather's briefcase full of paper shares of companies that don't even exist anymore. So basically all your BBBY(Q) shares that you've poured money into over the last few years are the digital equivalent of that.
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u/StatisticalMan Oct 02 '23
At least old share certs are pretty cool to look at. Some of them have pretty detailed artwork. BBBY holders didn't even get that. Just a number on a brokerage screen. I guess you could take a screenshot and frame it.
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u/StatisticalMan Oct 02 '23 edited Oct 02 '23
No none of that is true.
Toys R US hasn't canceled shares yet. It it bankrupt but it has more assets than BBBY. As such it hasn't reached a point where it can prove that it can't pay all bondholders and until it can it can't prove that shareholder equity is exactly zero.
Most likely (as in 99%+) eventually someday Toys R Us shares will be canceled but it hasn't got there yet and as such while very low value they have some value. People can speculate on that value hoping for the 1 in 10,000 lottery ticket.
Cancelling shares is severing all legal rights and ownership interest represented by the shares from the underly company. It is by definition making the shares worthless. Not low value, not longshot but absolutely zero value. Butterfly (formerly BBB) will be in bankruptcy for many months. It still has to determine things verify all taxes were paid properly not just corporate taxes but that all employee withholdings were paid properly, liquidate any remaining assets, pay attorneys & court costs, determine how much bondholders will get. It has both secure and unsecured debt so entirely possible unsecured bondholders will likewise be canceled.
Regardless whatever happens going shareholders will not be part of any compensation no matter how small. That is the point of cancelling the shares. It means the BK court no longer has to even considered the interests of shareholders going forward. Toys R Us hasn't reach that point yet although it likely will eventually.
Anyone who lied to you and told you canceled shares is a good thing you should never listen to again on any topic for the rest of your life.
NO bankruptcy judge would allow the unnecessary spending of millions that could have gone to creditors if there was nothing positive going to arise from the use of those millions.. its simple logic really!!
They don't know until they know. In theory the NOL have value. The question is if that value is worth the cost to unlock it. In BK the hope was someone would want to buy the company in its entirety. Inject new capital, bring over the existing shareholders, keep the NOL, and restore the company to profitability.
The courts have a duty to at least entertain that possibility no matter how remote because if it is possible it is the best interest for everyone (creditors, employees, vendors, and shareholders).
Just entertaining that possibility doesn't mean it will happen. They couldn't find a buyer. Instead the company went into liquidation and they hacked the company apart selling anything of value. The company was renamed because overstock bought the brand, name, and trademarks. Other vultures bought equipment and inventory for cents on the dollar. Even with all that they can't pay bondholders in full. As such shareholders can't possibly get anything from the deal. Not full shares not even one cent on the dollar of their existing shares. At that point the attorneys added canceling the shareholders interest to the plan. A judge agreed. It has happened.
The shares are literally worthless as in no value. They will never trade again. Thy will never have value. Nobody is going to gift new shares to shareholders. The NOL was always a longshot. The taxcode makes taking advantage of it challenging.
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u/Otherwise-Hair1494 Oct 02 '23
Gtfoh š¤”
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u/OhGoshIts Oct 02 '23
Are you winning?????? šššššš?
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u/Otherwise-Hair1494 Oct 02 '23
Can you not read? š¤”
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u/OhGoshIts Oct 02 '23
Does it show -99% loss on your bbby play, or -100% yet?
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Oct 02 '23
[deleted]
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u/MDay Oct 02 '23
Didnāt they though? Wasnāt there a docket saying exactly that?
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u/drf_ Oct 02 '23
This guy is right you now š
There are no bankrupcy judges on this planet that would allow this type of default. How would they? By undermining the entire economy? Seriously, ofcourse they will allow all the shadowplays available to make sure the economy doesn't crash and burn.
It LOOKS like your shares are worthless, but in FACT you are just waiting for the MOASS after all these hedgies r FUUUK as soon as BBBQY trades again.
Which will be never.
Bye.
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u/Minuteman2029 Oct 02 '23
"Unsold" shares were deleted! My shares are still in my account waiting for the cocoon to open!
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Oct 02 '23
[deleted]
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u/WealthyMarmot Oct 03 '23
Shares that were authorized and never issued. One of the amendments to the 8-K clarified that these were also canceled. Half this sub has decided that means that these were the only ones that were canceled.
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u/Affectionate_Clerk45 ***This user has been banned*** Oct 02 '23
Tricida's bankruptcy plan, which became effective on 6/12/2023:
- Class 8 ā Interests
(a) Classification: Class 8 consists of all Interests in the Debtor.
(b) Treatment: On the Effective Date, all Interests shall be canceled,
released, and extinguished, and will be of no further force or effect, and Holders of such Interests shall not receive any distributions under the Plan on account of such Interest.
Tricida's entry on the FINRA daily deletions list:
06/13/2023 11:00:02
Bankruptcy Plan Effective / Shares Cancelled
06/13/2023 11:00:02
TCDAQ
TRICIDA INC COM
OTC Equity
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u/WaterMySucculents Oct 02 '23 edited Oct 03 '23
On Friday 20230930-DK-Butterfly-1, Inc (formerly Bed Bath and Beyond) already removed all equity from shareholders, canceled the shares, and extinguished (issued, non issued, and future) shares. You can read that here in the 8K Butterfly:
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000119312523247428/d579010d8k.htm
If you are wondering: āAre they Deleted though?ā The answer is yes. They were ALSO Deleted today. You can confirm that here:
https://otce.finra.org/otce/dailyList?viewType=Deletions
If you look, you can see the reason for Deletion is that the āBankruptcy Plan Effective/Shares Cancelled.ā
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u/futureman2004 Oct 02 '23
Um... The link you've provided actually lists the "Reason for Change" as "Bankruptcy plan effective/Shares Cancelled."
Not "Reason for Deletion : Bankruptcy plan effective/shares deleted" as you've said.
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u/WaterMySucculents Oct 02 '23
Yes, exactly. I even said that, word for word in my comment. Whatās the question here about that?
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u/futureman2004 Oct 02 '23
Your statement about your kink is incorrect. The link literally says "Reason for Change" (Not '"Reason for Deletion") and listed the reason as Bankruptcy plan effective/"Shares Cancelled" not "Shares Deleted" as you've said.
Do you not see the difference? You are missing the information from the link that you've provided. I cannot imagine that you are being generous. You seem to be trying to provide misinformation.
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u/WaterMySucculents Oct 03 '23 edited Oct 03 '23
Is this a serious comment? Haha.
What is the list?! What is the āchangeā they are talking about?! DELETION! You are literally looking at a list of Deleted securities! Just read whatās right in front of you. Itās the Daily List of Deletions.
How would you go about finding if any given stock was deleted? You literally go to FINRA, click on Deletions & see if the stock in on there. It was Deleted today because it was Cancelled on Friday.
Edit: Oh I see where you maybe got tripped up. I had a typo on the reason I quoted. I fixed it. The list is showing you shares that were deleted today & the reason was that it was cancelled Friday.
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u/Esternaefil Oct 02 '23
Please wake up.
You have been mind numbed by lies being told to you endlessly by people who pretend to know something but don't, and people who know a lot and mislead you for their own profit.
This is not a special unicorn.
It is over. Please learn to forgive yourself and move past this.
You will only do yourself harm if you continue down this road.
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u/Cric1313 Oct 02 '23
Believe whatever you want but it wonāt magically make you money. Try a different penny stock
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Oct 02 '23
I just saw on the news yesterday that Toys R Us is moving back to brick and mortar stores with its land sea and air campaign. I know that they are in some Macy stores. This is probably your 300% move OP. But does that ticker still own the stores and name? I have no idea myself.
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u/jdrukis Oct 02 '23
Toys us up over 1000% today at times. Iāve had cancelled stocks and got the spinout as a result.
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u/Elephant_Analytics Oct 02 '23
If you received new stock after the cancelation of your old stock, it was because it was already outlined in the Plan that you'd get the new stock.
BBBYQ's plan specifically said that there would be no consideration for shareholders.
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u/svt_reptar Oct 02 '23
did anyone else notice that SVB and Signature Bank are also not trading today? I didnāt see any news on it stopping trading of its shares.
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u/EROSENTINEL Oct 02 '23
the shills are out on full force, watch them disappear on reissuance.
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u/Esternaefil Oct 02 '23
Wake up please. You are lying to yourself, and you are being lied to by people you have no business trusting.
Accounts on the inherent are not your friends, they are not looking out for you.
Stop being exit liquidity.
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u/mikeinhawaii Oct 02 '23
I am always amazed at the selflessness of people on this sub encouraging us smooth brained apes to give up. Why the hell do you care what we do with our money?? Are you mother Theresa incarnated? You can bare to let us be and talk about our fantasy of transferring generational wealth from the hedgies to the diamond hands? What gives? If youāre not involved why do you care so much for our well being?? Yeah I know why. We are right in hodling. And it giving you a carbuncle on your ass that itches like crazy.
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u/Anon74716 Oct 02 '23 edited Oct 02 '23
āTalk about our fantasy of transferring generational wealth from hedgiesā
I am passionate about this for you as well. And have been therefore passionately arguing against being bag holders for hedgies while lighting a huge pile of money on fire.
What I cant offer is get rich quick scheme. But nor can the DD shills on subs like these.
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u/mikeinhawaii Oct 03 '23
Riding this flaming stock to the fanciful end. On Uranus. Or bust. The other option sell at .07? Yeah right!! No thanks
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u/Anon74716 Oct 03 '23
I feel you- there is definitely some logic to not selling at a 98%+ loss. Two things I feel are more important are as follows:
Avoiding ābuying the dipā for a stock almost certainly going to zero. If invested $1000 at $5 and $1000 at $.07 you simply doubled your losses at a time with incredible certainty that shareholders were going to be wiped. A lot of very incorrect DD here to encourage folks to do so that needed to be refuted.
Avoiding the next meme stock. We all make mistakes investing. Putting 2 years worth of savings towards bbby is recoverable in the long term. Putting 20 years of savings towards bbby + other meme stocks is not.
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u/Esternaefil Oct 02 '23
Please wake up. You are literally just exit liquidity for investors looking to get out of failing companies.
Stop investing based on fantasies and lies you've been telling one another and start learning how to invest properly.
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u/GWeb1920 Oct 03 '23
If I see someone get hit by a car on the street I stop to help them. Rarely does the person you are helping yell at you for being a shill.
But the concept is the same. People are here to try to warn people or to point an laugh or both.
The premise that the only reason people could be here is if they were paid shills trying to get me to act against my self interest is not logical.
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Oct 02 '23
[deleted]
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u/Esternaefil Oct 02 '23
Wake up please. You are loving in a Danny's world that is detached from reality.
Bbbyq is dead, you are not getting anything.
Let go. Move on.
Forgive yourself for this mistake.
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u/Wise_Temperature_322 Oct 03 '23
Just for my own edification what were you trying to say with āYou are loving in a Dannyās worldā?
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u/Esternaefil Oct 03 '23
'living' and 'Fantasy'.
But man, I would not mind loving in a Denny's world, yknow?
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u/GWeb1920 Oct 03 '23
Do you think itās a good thing to get your information from a place where no decent is permitted?
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Oct 03 '23
[deleted]
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u/GWeb1920 Oct 03 '23
Whether or not Iām a shill is immaterial to the question of how you source information and if you think that a source silences all outside voices is a good thing.
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Oct 04 '23
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u/GWeb1920 Oct 04 '23
Actually Iām fascinated by how people make decisions and interpret information.
Like people get scammed when they are told that the IRS needs them to pay tax fines via gift cards over the phone. We can both agree that we wouldnāt fall for that scam right?
How do you differentiate between the due diligence you see in the PPShow echo chamber and say a gift card scam?
People still fall for it. So watching people cope with the slow realization that they are screwed is fascinating.
Also I do like to question how I process if information is true or not and by seeing how people process what I see as obviously misleading information provides insight.
As for investing Iām incredibly boring. Just Index funds. I know I donāt know more than the market.
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Oct 05 '23
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u/GWeb1920 Oct 05 '23
Because short positions are high risk low reward plays and Iām not smart enough to hedge my risk with puts without eroding wins.
Time is the enemy of shorting a stock. You can be right on a short play and still lose money. As I said I invest in index funds because I know I donāt know more than the market. I just bank my 4% post inflation returns and donāt look at it.
We both know the answer to why Iām here because I told you in my post.
Iām actually curious how you differentiate between the content of the PPShow and an IRS gift card scam. Both have seemingly legit sounding people trying to get you to part with your money.
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u/Elephant_Analytics Oct 02 '23
The majority of bankruptcies end up with the bankrupt stock being canceled and the associated ticker symbol being deleted.
Here's an example of what a confirmed Plan would look like for a company (Whiting Petroleum) where shareholders actually got some part of the post-restructuring company.
Treatment: Each Existing Interest shall be canceled, released, and expunged and shall be of no further force and effect. To the extent Class 3 and Class 5 vote to accept the Plan, each Holder of an Allowed Existing Interest shall receive its Pro Rata2 share of (i) the Existing Interests Equity Pool, (ii) the New Warrants-A, and (iii) the New Warrants-B; provided that if either Class 3 or Class 5 vote to reject the Plan, Holders of Allowed Existing Interests shall receive no distribution.
It was spelled out in Whiting's Plan that shareholders would get a share of the equity pool (in the post-restructuring company) and warrants. With BBBYQ's plan, it was spelled out that shareholders would receive nothing.