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lowhound
LSU Fan
Effie
Member since Aug 2014
3841 posts
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CHK stock out the roof today, up 146% today
You could have bought at $12/share last week, up to $62 today with news of an OPEC deal.


LSUGUMBO
New Orleans Saints Fan
Shreveport, LA
Member since Sep 2005
6355 posts
 Online 

re: CHK stock out the roof today, up 146% today
Damn! What happened to all the other O&G stocks?


lowhound
LSU Fan
Effie
Member since Aug 2014
3841 posts
 Online 

re: CHK stock out the roof today, up 146% today
All oil & gas stocks have been up since that scare a few weeks ago. When they finally started cutting production, supply started to level out and demand picked up with the COVID restrictions starting to get loosened. My oil & gas stocks are up 80% in the past month.
This post was edited on 6/8 at 1:13 pm


8thyearsenior
Houston Astros Fan
Centennial, CO
Member since Mar 2006
4045 posts
 Online 

re: CHK stock out the roof today, up 146% today
Aren’t they going bankrupt though?


donRANDOMnumbers
New Orleans Pelicans Fan
Hub City
Member since Nov 2006
15527 posts

re: CHK stock out the roof today, up 146% today
they had a 1-200 split in April


thegreatboudini
McNeese State Fan
Member since Oct 2008
4409 posts

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

Aren’t they going bankrupt though?


Creditors will keep them afloat. Too much money to lose.

I can’t speak to why chk is up like it is over the last few days, but I got in at a very low price, so a couple more days like this and I’m out.
This post was edited on 6/8 at 1:51 pm


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12
bayoubengals88
Wisconsin Fan
LA
Member since Sep 2007
13629 posts

re: CHK stock out the roof today, up 146% today
Is this now considered low float?


Auburn1968
Auburn Fan
NYC
Member since Mar 2019
1456 posts
 Online 

re: CHK stock out the roof today, up 146% today
All of my energy and oil stocks are doing well, but I bought them when all the bad news and $0 per barrel was going on. Transportation, casinos and airlines are all coming around for the long term.

Some of the tech and bio lottery tickets are sputtering, but that's not the meat and potatoes stuff.


bayoubengals88
Wisconsin Fan
LA
Member since Sep 2007
13629 posts

re: CHK stock out the roof today, up 146% today
REITs are roaring back as well


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40
evil cockroach
LSU Fan
27.98N // 86.92E
Member since Nov 2007
5156 posts

re: CHK stock out the roof today, up 146% today
The CHK call options were up like 2,000% today
This post was edited on 6/8 at 3:58 pm


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30
TD SponsorTD Fan
USA
Member since 2001
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Upperdecker
LSU Fan
St. George, LA
Member since Nov 2014
22124 posts

re: CHK stock out the roof today, up 146% today
OXY looking real nice


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Enfuego
Tulane Fan
Nola
Member since Mar 2009
9581 posts
 Online 

re: CHK stock out the roof today, up 146% today
Must have been a massive short squeeze, otherwise it makes no sense. Bankruptcy is inevitable and will likely happen in next few weeks.


Hawgeye
Central Arkansas Fan
tFlagship Brothel
Member since Jun 2009
26555 posts

re: CHK stock out the roof today, up 146% today
Down damn near $30 after hours.


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00
PUB
New Orleans
Member since Sep 2017
4728 posts

re: CHK stock out the roof today, up 146% today
Announced after close today .......
Bankruptcy is now a great 10 - 20 x within days. No longer are bankrupt companies considered poorly run and dead. Giving all the assets to senior lenders and defaulting on your bonds is Bullish. If Enron was still around, their stock would be worth thousands instead of zero.


Kramer26
LSU Fan
St. George, LA
Member since Jan 2005
6081 posts
 Online 

re: CHK stock out the roof today, up 146% today
I don’t believe it. How many times are they gonna report BK for it not to happen? No sources in the article, fake news.


PUB
New Orleans
Member since Sep 2017
4728 posts

re: CHK stock out the roof today, up 146% today
Reported on Bloomberg. In progress.


Kramer26
LSU Fan
St. George, LA
Member since Jan 2005
6081 posts
 Online 

re: CHK stock out the roof today, up 146% today
Go back and count how many times it was reported for this company the last 5 years. This stock continues to be manipulated. They aren’t going into BK.


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21
cwill
Member since Jan 2005
44458 posts

re: CHK stock out the roof today, up 146% today
Not sure what’s dumber retailers bidding up a soon to be bk Chk or already bk htz and wll. Today was clear evidence the market has been overrun by retail noobs that are together creating their own fomo bubble.


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50
Enfuego
Tulane Fan
Nola
Member since Mar 2009
9581 posts
 Online 

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

Chesapeake Energy Corp. is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the U.S. shale revolution to senior lenders, according to people with knowledge of the matter.

The dwindling options for a powerhouse that once rivaled Exxon Mobil Corp. for title of king of American natural gas comes after Chief Executive Officer Doug Lawler’s 7-year effort to untangle the financial and legal legacies of Chesapeake’s late founder, Aubrey McClendon.

Lawler’s denouement, in turn, would signal the deep peril facing a shale industry largely built according to McClendon’s blueprint for Chesapeake: amassing incredible debts to pursue aggressive drilling programs that ultimately unearthed too little treasure to reward investors.

Gordon Pennoyer, a spokesman for Chesapeake, declined to comment. The talks with lenders come almost seven years to the date that Lawler assumed the helm at the Oklahoma City-based company at the behest of Carl Icahn and O. Mason Hawkins, at the time two of the driller’s biggest investors.


LINK

You are kidding yourself if you don't think BK is coming. It's taking forever to be announced given the complex negotiations with the lenders and other debt holders. They can barely make interest payments right now (in sub $50 oil and $2 gas) given $9B+ of debt plus they also have looming debt maturities coming - ~$175M in August and $75M in November 2020 (and another $150M in February 2021). They don't have the ability to access debt markets and keep kicking the can like they have been. 100% of the equity will be wiped when they restructure. Net asset value is well under $9B in the current price environment imo. Had COVID/downturn not happened they may have been able to stave off BK another 6 months.
This post was edited on 6/8 at 10:40 pm


go ta hell ole miss
New York Yankees Fan
Member since Jan 2007
8200 posts

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

Bankruptcy is inevitable and will likely happen in next few weeks.


More like the next few days, if not hours. Plummeted after hours. Shorts got squeezed and Robinhood investors are going to wish they had taken profits like everyone else is doing.

Wonder if this puts the other oil stocks in reverse. It will definitely slow them down and may put the brakes on.

Algorithms and bots got ahold of this in the last two days and crushed the shorts. They are making people a lot of money right now. The same Algos that everyone was complaining about so much for driving the markets down so rapidly.
This post was edited on 6/9 at 1:05 am


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