re: CHK stock out the roof today, up 146% today

quote:

---

No news released.

---

You mean other than the Bloomberg report?

I laughed a little at this note in a Forbes article:

quote:

---

Much of the price action appears to be attributed to retail investors new to day trading on the no-commission Robinhood platform — who are set to learn valuable lessons about the nature of capital structures and the pecking order of recoveries in a bankruptcy.

---

quote:

---

Trading started again. Now somebody explain that.

---

So what is your stance here, that the report is false and they aren’t preparing to file for bankruptcy? If that’s the case why have CHK executives not responded to the media reports?

You seem to think that months of bad news means it’s not going to happen - I’d argue the opposite. Hell, the company already acknowledged chapter 11 was a possibility earlier this year.

ETA: Here’s the quote from their 10-Q filing in May:

quote:

---

As a result of the impacts to the Company's financial position resulting from declining industry conditions and in consideration of the substantial amount of long-term debt outstanding, the Company has engaged advisors to assist with the evaluation of strategic alternatives, which may include, but not be limited to, seeking a restructuring, amendment or refinancing of existing debt through a private restructuring or reorganization under Chapter 11 of the Bankruptcy Code.

---