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Can someone explain why this penny stock exists/what exactly is it??
Poast new message in this thread
Date: October 27th, 2021 11:59 PM Author: flatulent church building https://finance.yahoo.com/quote/INTEQ/
https://en.wikipedia.org/wiki/Intelsat
In bankruptcy: https://www.reuters.com/legal/transactional/intelsat-bankruptcy-judge-denies-equity-call-examiner-2021-09-29/
New CEO coming:https://huntscanlon.com/egon-zehnder-tapped-by-intelsat-to-find-new-ceo/
Intelsat filed for bankruptcy in May 2020, saying it needed to restructure as it prepared to transfer some of its so-called C-band spectrum to the U.S. Federal Communications Commission, which planned to use the spectrum to build out a 5G network. In exchange, Intelsat is receiving about $4.9 billion from the FCC.
The case is In re Intelsat SA, U.S. Bankruptcy Court, Eastern District of Virginia, No. 20-32299.
How hard is it to buy hundreds of thousands of shares in a low volume OTC penny stock like this and what is the best way to do it?
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Date: October 28th, 2021 1:24 PM Author: flatulent church building (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344357) |
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Date: October 28th, 2021 1:25 PM Author: Soul-stirring space travel guidebook I don't know. Do your due diligence and see. I made $38,000 on Zomedica stock when it ran out of nowhere. If you have a large appetite/room for risk, take a shot. (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344362) |
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Date: October 28th, 2021 1:29 PM Author: flatulent church building At what point did you buy Zomedica? (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344386) |
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Date: October 28th, 2021 1:31 PM Author: Soul-stirring space travel guidebook 16 cents, sold at $1.20. (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344395) |
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Date: October 28th, 2021 1:44 PM Author: flatulent church building How do I buy large amounts of OTC stock? (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344471) |
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Date: October 28th, 2021 1:46 PM Author: Charcoal Arousing Police Squad Round Eye What's to get? Shareholders are hoping there's money left over in the bankruptcy estate after paying off creditors, presumably from selling the radio spectrum. Happens occasionally. See: Hertz. (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344484) |
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Date: October 28th, 2021 1:48 PM Author: flatulent church building ty. This is what I understood from the above but am curious how to fundamentally analyze the likelihood of what is left over after bk proceedings terminate (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344506) |
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Date: October 28th, 2021 1:57 PM Author: Charcoal Arousing Police Squad Round Eye Bk court filings are public and include financial info, get on PACER and find em. Another way to invest is buying creditor claims at a discount and hoping to collect a higher percent. (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344561) |
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Date: October 28th, 2021 1:50 PM Author: flatulent church building I'd like to buy $30k worth of stock (~3mm shares). What's the SMART way to do this? (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344521) |
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Date: October 28th, 2021 2:06 PM Author: orange cumskin Bankruptcy docket is available here for free: https://cases.stretto.com/intelsat/court-docket/
There is a second amended plan that is currently being voted on with a Confirmation Hearing set for November 8-10. Based on a twenty second read of the Disclosure Statement (plain English document describing the plan) equity interests are "impaired" and will be wiped out in the bankruptcy.
Accordingly, if the Plan is confirmed (i.e. approved by creditors and the Judge) the existing equity trading OTC will be wiped out at some point in the near future. The only value to the stock is either (a) you think a better Plan will get approved that provides for distribution to old equity (highly unlikely) or (b) you think some idiot will pay more for the stock tomorrow because the market is not rational and this could be the next great meme stock.
Bottom line, do your diligence and buyer beware. |
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Date: October 28th, 2021 2:13 PM Author: flatulent church building tyvm
This clears up any hope I had re: prospect of old equity potentially being worth something. |
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Date: October 28th, 2021 2:16 PM Author: orange cumskin Existing equity in a bankruptcy receiving anything is very rare. Hertz is the high profile exception to the rule. If you are going to speculate in the stock of a bankrupt company you probably want to do that before the plan is filed when some people may have hopes for a home run outcome. (http://www.autoadmit.com/thread.php?thread_id=4951070&forum_id=2#43344698) |