Guys, just because it is dirt cheap does not mean it is worthwhile buying.
And yes, lately there are many traders hunting for bankrupt stocks that offers them a 30% jump in returns (HertzDelta,etc) , boosting their egos that they have the skin in the game.
Really ?
Now, the same thing is happening to Chesapeake Energy. I was shocked to see it's peak was around 11,000 in 2018 (barely 2 years ago) and the price is now 8.55. That means a severe , mind blowing 128, 554% drop. No, I won't call this a discount at all. Read news here
To me, it is not worthwhile to take a bet on this company at all as the risks far outweigh the returns. Please do not bet on your luck. The devils (temptation of having won once or twice) will set your mind thinking that you can do it again and that's when you get slaughtered.
There are 5000 plus companies in USA that you can choose from so drop this and move on to a better one that's worth your time and effort.
And yes, lately there are many traders hunting for bankrupt stocks that offers them a 30% jump in returns (HertzDelta,etc) , boosting their egos that they have the skin in the game.
Really ?
Now, the same thing is happening to Chesapeake Energy. I was shocked to see it's peak was around 11,000 in 2018 (barely 2 years ago) and the price is now 8.55. That means a severe , mind blowing 128, 554% drop. No, I won't call this a discount at all. Read news here
To me, it is not worthwhile to take a bet on this company at all as the risks far outweigh the returns. Please do not bet on your luck. The devils (temptation of having won once or twice) will set your mind thinking that you can do it again and that's when you get slaughtered.
There are 5000 plus companies in USA that you can choose from so drop this and move on to a better one that's worth your time and effort.
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from 8.55 , it drops to 7.90
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Compare this to Hertz chart, it has the same tragic state.....