Investing

The hot new thing to make your stock pop: Go bankrupt

0


Passengers wait to get on a Hertz shuttle bus at Los Angeles International Airport.

Patrick T. Fallon | Bloomberg | Getty Images

To get a slice of one of the market’s most epic rallies, investors are snapping up stocks everywhere including shares in bankrupt companies, which in theory will be worth nothing.

Hertz, Whiting Petroleum, Pier 1 and J.C. Penney, which all declared bankruptcy amid the pandemic, saw their shares surging at least 70% each in Monday’s trading alone, some of which more than doubling. Imminent bankruptcy filers Chesapeake Energy and California Resources also skyrocketed from a few pennies to a couple of dollars in a matter of days. 

The wild moves in bankrupt…



Source cnbc.com

Meet Nikola, the speculative electric vehicle stock that traders believe is as valuable as Ford

Previous article

ESG funds outperforming peers during coronavirus pandemic: BNP Paribas

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Investing