Now we all know why the recent faling price of this company's stock. Does anyone have any advice ?
>>Does anyone have any advice ?<<I don't!I still have those shares that I bought a month ago.I don't understand most of the numbers that the company has released today so far. Where did the big write-off come from?Was there a CEO/company board out there watching operating losses mounting to such extend for such a small company? How could their debt (at 26% before today's numbers) or a refinance of their debt become such a troubling issue that the company talks about chapter 11?What are we to do now with all this negative news in one day from this company?Any thoughts?Appreciate it alot if biganaconda shared his views!Thanks
Check the news boards... Looks like BGLS might file for Chapter 11 protection.I have been, luckily, only been watching this stock since May. With all the recenet movement downward over the past few weeks before the Chapter 11 news release smells like insider selling to me. When they anounce Chapter 11, the stock dropped 1.50.Hopefully, their Chapter 11 works... else, write it off.Tawman.
Well, they filed chapter 11 today. I talked to senior mang. yesterday. He said they feel they have a viable company. Need to get a new business plan, get rid of some lawsuit pending in Cal., close some company owned stores, and new management. He felt that the hiring of 3 top people this year steered them in the wrong direction. Hope they pull this off. I'm still holding on too. At this point I have very little left to lose. The person I talked to said the top people there still own alot of shares, it gives them incentive to turn it around too, if you can believe what they are saying.
Is there a way to find out how many shares top management owns, and how many shares were sold this past week by company officers. I beleive this infomation must be made public.
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