Buying cheap stocks which company is under chapter 11 protectin and restructuring would be good idea?
I want buy basement price beaten stocks which is under chapter 11 and restructuring and hold for a while to see company come back. Stock is currently trading at 0.11 cent on Nasdaq.
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There’s usually a slim chance that those companies will come back. They will trade for a while on the Bulletin Board or the Pink Sheets. When they file for Chapter 11 there is usually no equity left. Common stockholders are the last in line to get paid off. When the company reorganizes the stock will be canceled and become worthless. New stock will be issued in the reoganized company.
You are looking for a grand slam. I don’t recommended it. This is not a good way to make money. I don’t know anybody that are successful of buying penny stocks like that.