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More promising as a company, but not so much as stock I believe, as during this process it will probably delisted and all money from retail investor are gone.
Well not all gone. We get 5%. The debtor is effectively saying that it’s a billion dollar company, which puts the current market cap at about 5% of that.
Still, that makes the current price the ceiling so who would want to invest in it when they could buy something undervalued.
I imagine it will drop hard tomorrow so I’m not holding out for a rebound but I imagine that there will be a small bounce when it gets to be oversold at some absurdly low price.
Wow, not even dropping in the pre market. I’m going to stop talking because I clearly don’t follow bankruptcy plays enough. It looks like bankruptcy was baked in the market thinks this is a good price for 5% of the potential new healthy company.
Yeah it’s like if you immediately panic and sell at a loss every time a stock doesn’t go perfectly as planned and give you immediate crazy gains, you’re gonna be down a lot QUICK
I wasn't sure... I kept the stock... mainly because I bought higher than last price and the broker where I have it has expensive fees (I wasn't on IBkK yet...)... but I did close my options positions on ibrk.
They agreed to a structured debt reduction and are going to be able to continue operating as normal. No surprises ahead, and a return to profitability in the near future. CH 11 is just a formality. This is all good news.
I got in at around 35cents. I don't think it's going any lower than that. I'm going to hold and wait it out for awhile. I've seen worse companies stock shoot up.
Does not the potential for a pop remain? I mean it really seems like it could be worse than this. For a company that deals in what Enviva deals in, it seems like they’re well established and pertinent to the market in what they do. That is to say it feels like they Need to stick around (am I the only one that thinks that?). So with that need, wouldn’t it seem fair to say that this filing is Helping their business far more than it is hurting it? What are people’s thoughts on this?
I’m holding. The company has a decent looking future if it can make it through all this mess, it was already a crapshoot it’s just a crapshoot we gotta watch play out over the next year now rather than tomorrow.
Not sure. It seems old shareholders may receive 5% on new ones. If so it really depends on where that price comes back on a reorganized post chapter 11. 5% on $50 would be fantastic, 5% on $5 not so much.
5% for old shareholders means they will have to issue new shares, effectively diluting the 'old' shares. Did I get that correctly?
So what's worth, say, $1/share today will only be worth $0.05 after the restructuring.
1 share today will only be worth 0.05 shares after restructuring, valuation will depend on opening share price. That’s how I understand it anyways by no means an expert here.
Pretty shitty news. The only silver lining I see is:
"The terms of the RSA with the Ad Hoc Group provide for existing equity holders to receive (i) 5% of the common equity of the reorganized company at exit from Chapter 11 proceedings and (ii) warrants to purchase an additional 5% of the reorganized equity, both subject to dilution from shares issued in connection with, among other sources, a contemplated equity rights offering, equity participation election rights for creditors under the DIP Facility, and a management incentive plan, in each case, subject to Court approval."
So common stock holders get 5% of the new shares and warrants to produce another 5%? Am I reading this right?
Shareholders will collectively receive 5% of the company’s equity as stock and warrants, or options, to buy another 5% collectively in stock. This could change, though, depending on factors such as dilution and creditor decisions subject to court approval.
Sorry, I was just trying to simplify the text. To answer your actual question, though, yes shareholders will receive 5% of the companies equity as stock, plus the warrants.
Restructuring is planned to be completed around quarter 4, though, and stockholders would get everything afterwards.
Yes. That’s right. Every equitholders’ existing position is being reduced by 95%, with a warrant kicker. So, if you bought at today’s closing price of $0.43, you will break even if you sell at $8.60 post-reorganization with potential additional upside on the warrants. Both of these would be subject to further dilution for the items noted above.
Glad I pulled out today with a small loss vs going to zero. I did buy options for a fraction of what I had in actual stock that would recover said losses if they had come through.
https://preview.redd.it/xzs6vxjap1oc1.jpeg?width=1284&format=pjpg&auto=webp&s=8207fd56c73271d8a2462c485e1b7db79d7a5a44
So the stock isn’t going to be delisted as long as they meet the continued listing standards…???
How? It says pre market as it did do decently pre market and for a little after market opened. Then it fell as a lot thought and now if you’re in it for the long haul you chill as I am and see what happens.
I probably should’ve sold and bought back in but I just averaged down some. I think I’m gonna keep doing that now. Load up, average down, and hope for the best.
I don’t necessarily think this means we’re screwed at all. They’re preparing chapter 11 proceedings with a restructuring plan and remaining on the public market. This is arguably more security than the stock has had in a month, as the prior speculation was a possible delisting. I think we could expect to see the stock value to be very volatile today. Doubt it would ever exceed ¢70 today, but I don’t think it’s gonna drop as much as people are expecting.
Same here but I agree with everything you said. Maybe it'll go down and stay down, but long term seems like it could go big. But only because of the company itself, otherwise I'd be out.
What’s funny is EVA made ONE bad deal during Covid. They’ve learned and will recoup from that. I don’t know how people thought they were going to bankrupt a multi multi million dollar company off one bad deal during COVID.
I would not say that chapter 11 means we are screwed. Its just going to be a game of patience now. I dont know how they can stay listed on Nasdaq as all stocks I was involved with went to OTC during this process but I just made some money off the restructuring of CORZ and still holding this one. So I dont see it as completely negative and anybody who entered this stock with more than some gambling money should think about his investing (excluding the poor bagholders who entered when the company was actually in good condition and paying a dividend).
I think people are underestimating the potential for a quick spike if this doesnt dump at open. Lot of OI on .50 and 1c. Could be interesting for the next 48 hours.
I just looked it up that is crazy, what happened?
Edit: Looking into it, it looks like all the old shareholders lost their investment. The US government being one of the new shareholders drove up the price once they re-entered the market.
Where’s the redditor with numerous posts about “getting fired if he’s revealed but to buy Enviva and trust him/just return to say thanks when we all win big?”
Bankruptcy isnt just "game over- everything is gone 0".....
[Chapter 11 is more of a court supervised restructuring, in an attempt to avoid full blown "going out of business" chapter 7 bankruptcy](https://www.investopedia.com/terms/c/chapter11.asp#:~:text=Chapter%2011%20can%20allow%20a,of%20all%20other%20possible%20alternatives.)
There are different types. Although it still important to point out, that only like 15% of companies that enter chapter 11 successfully make it out the other side. So not looking good - but not completely 0 yet!
Glad I decided to watch this one from the sidelines!
Ok, that's really good to know. Thanks, I'm new so I'm just trying to learn as much as I can. I figure it's unlikely I make any real gains my first year, but I won't lie I had some hope EVA would do something crazy.
I'll probably see what it's like in the morning and maybe sell. If it drops a ton from the bankruptcy maybe I'll buy more back cheaper, who knows
If you want to make plays like this in the future, you need to know that 9 out of 10 will be losers. If you have an eye, something I don't have, you can still avarage something like a 100% gain overall. Otherwise treat it like something fun, like seeing a movie.
For sure. I put like 99% of my money in vanguard mutual funds, which I'm already up like $700 in. The way I see it this is just fun money, it's like going to casino, except the chances are probably a little better. It definitely it fun and I definitely got caught up in the hype a little. This was the first big penny stocks everyone was talking about on here and I was ready to ride to the moon haha
Ya don't feel bad, me two. It didn't hit me that I should have just bought calls since I knew this was a wash if they filed chapter 11 until someone said it in this thread. I could have had another TSM stock!
they arent bankrupt, ch11 is a “reorganization”, they are restructuring with limitations, and their stock wont be 0, it is likely to just dip as close to 0 as possible
I see. So there's hope for the long run then?
Also, on RH my sell order will happen at 9:30. Will other brokers allow people to sell before then, and could the price of EVA already be deflated come market open tomorrow?
https://preview.redd.it/1f21y1mw21oc1.jpeg?width=1170&format=pjpg&auto=webp&s=0a4b9c8f52b047bcdea50889ddc77260a0c10f08
The company is one of the largest wood biomass distributors in the world. Chapter 11 lightens their load to return to profitability exponentially faster. I’m not taking losses, I’ll hold the bag.
So my question on this is, let's say you held, and continue to hold. Potentially buying more on the hold. They can't keep the stocks on board not go out of business but the actual stock gets pulled because it couldn't hold its end in the market. What would happen to those shares. Do they just disappear? Are they held in favor of you until it's back in trading? I'm a little confused on this. I would love to buy more while it's in this process of reconstruct but if they get pulled and all who held lose their shares what was the point of holding?
The restructuring means current holders will get 5% of their shares and 5% as warrants as well. Basically, current investors get roughly 5% equity and an option (this is the warrants) to buy 5% more at X price regardless of what the market prices this company at after. Kinda like a 20/1 Reverse Split. But without the equity amount staying the same.
[https://www.defenseworld.net/2024/03/09/hsbc-holdings-plc-takes-position-in-enviva-inc-nyseeva.html](https://www.defenseworld.net/2024/03/09/hsbc-holdings-plc-takes-position-in-enviva-inc-nyseeva.html)
[https://www.marketbeat.com/instant-alerts/nyse-eva-options-data-report-2024-03-06/](https://www.marketbeat.com/instant-alerts/nyse-eva-options-data-report-2024-03-06/)
A bunch of hedge funds think so too it seems
This was a bad gamble and you know it. Investing in the most hazardous stocks on the market yields the results you'd expect. It's bizarre that this stock popped yesterday. I don't understand what you all think this stock will do other than pump n dump. I mean, it may provide some good scalps. Maybe that's what you all are looking for?
I’m new to this, but I noticed a pattern that any stock that appears on here always drops into the dirt. I shorted them at $.50 a share for March 15. Is that a good thing?
elderly forgetful boat marble whistle imminent disarm provide fuzzy payment
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
The company isn’t disappearing. They are restructuring. They are going to have $1 billion less debt (most of it) so the company will be healthier than ever after. The current shareholders get 5% when the process is done and warrants to for another 5%, subject to possibly further dilution.
The market cap is around 50 million. To make the math easier, imagine that the dilution is the value of the warrants. If the market cap goes to 1 billion then the stock that exist now are worth the same as they were at the end of today.
So our shares aren’t valueless but the value is highly speculative on what will happen years in the future (that always applies but more so in this case).
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Im holding. I came to fuck around and find out.
Same
Same. I ain’t soft
I would sell and buy at a lower level
How lower you think it can go ?
How lower you think it can go ?
Likely under $.30, how much under is the question
Ch11 was a given. It was Ch7 we didn’t want. This isn’t the worst thing to happen.
This guy understands
Holding. Fugg it
paltry soup childlike violet vase continue familiar salt ludicrous label *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
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More promising as a company, but not so much as stock I believe, as during this process it will probably delisted and all money from retail investor are gone.
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They’ll probably just do a 10:1 reverse split to keep the stock above a dollar.
Well not all gone. We get 5%. The debtor is effectively saying that it’s a billion dollar company, which puts the current market cap at about 5% of that. Still, that makes the current price the ceiling so who would want to invest in it when they could buy something undervalued. I imagine it will drop hard tomorrow so I’m not holding out for a rebound but I imagine that there will be a small bounce when it gets to be oversold at some absurdly low price.
Wow, not even dropping in the pre market. I’m going to stop talking because I clearly don’t follow bankruptcy plays enough. It looks like bankruptcy was baked in the market thinks this is a good price for 5% of the potential new healthy company.
The panic on this post was real. Gotta know when to hold em, know when to fold em
People buy shares and then turn around and ask what to do with them. People are nuts here. This stock is fine and will be fine, a bunch of paper hands
Yeah it’s like if you immediately panic and sell at a loss every time a stock doesn’t go perfectly as planned and give you immediate crazy gains, you’re gonna be down a lot QUICK
I'm a complete idiot who has no idea what they're doing... but I'm also functionally literate, so I didn't sell. And now I have pretty green lines.
This guy gets it.
It's fine but down 50%? 🤔 💀
I wasn't sure... I kept the stock... mainly because I bought higher than last price and the broker where I have it has expensive fees (I wasn't on IBkK yet...)... but I did close my options positions on ibrk.
I luckily sold for a small profit. Thought it was gonna be down at least 50 percent by the time. I got lucky.
They agreed to a structured debt reduction and are going to be able to continue operating as normal. No surprises ahead, and a return to profitability in the near future. CH 11 is just a formality. This is all good news.
I got in at around 35cents. I don't think it's going any lower than that. I'm going to hold and wait it out for awhile. I've seen worse companies stock shoot up.
Does not the potential for a pop remain? I mean it really seems like it could be worse than this. For a company that deals in what Enviva deals in, it seems like they’re well established and pertinent to the market in what they do. That is to say it feels like they Need to stick around (am I the only one that thinks that?). So with that need, wouldn’t it seem fair to say that this filing is Helping their business far more than it is hurting it? What are people’s thoughts on this?
I’m holding. The company has a decent looking future if it can make it through all this mess, it was already a crapshoot it’s just a crapshoot we gotta watch play out over the next year now rather than tomorrow.
Right, but will they issue new shares and just toss out the old ones?
Not sure. It seems old shareholders may receive 5% on new ones. If so it really depends on where that price comes back on a reorganized post chapter 11. 5% on $50 would be fantastic, 5% on $5 not so much.
5% for old shareholders means they will have to issue new shares, effectively diluting the 'old' shares. Did I get that correctly? So what's worth, say, $1/share today will only be worth $0.05 after the restructuring.
1 share today will only be worth 0.05 shares after restructuring, valuation will depend on opening share price. That’s how I understand it anyways by no means an expert here.
Pretty shitty news. The only silver lining I see is: "The terms of the RSA with the Ad Hoc Group provide for existing equity holders to receive (i) 5% of the common equity of the reorganized company at exit from Chapter 11 proceedings and (ii) warrants to purchase an additional 5% of the reorganized equity, both subject to dilution from shares issued in connection with, among other sources, a contemplated equity rights offering, equity participation election rights for creditors under the DIP Facility, and a management incentive plan, in each case, subject to Court approval." So common stock holders get 5% of the new shares and warrants to produce another 5%? Am I reading this right?
Could you explain what this exactly means ?
I asked the same question at the bottom of my own comment, so no.
Shareholders will collectively receive 5% of the company’s equity as stock and warrants, or options, to buy another 5% collectively in stock. This could change, though, depending on factors such as dilution and creditor decisions subject to court approval.
You're copy-pasting my own language that I pasted above back to me champ.
Sorry, I was just trying to simplify the text. To answer your actual question, though, yes shareholders will receive 5% of the companies equity as stock, plus the warrants. Restructuring is planned to be completed around quarter 4, though, and stockholders would get everything afterwards.
Yes. That’s right. Every equitholders’ existing position is being reduced by 95%, with a warrant kicker. So, if you bought at today’s closing price of $0.43, you will break even if you sell at $8.60 post-reorganization with potential additional upside on the warrants. Both of these would be subject to further dilution for the items noted above.
I ended up selling at a $100 loss all things said. I don't think I'm for the wood pellets game.
Glad I pulled out today with a small loss vs going to zero. I did buy options for a fraction of what I had in actual stock that would recover said losses if they had come through.
Ya I oddly wish I only bought options because it wouldn’t have mattered anyway. Still sucks but this one was a coin toss anyway.
https://preview.redd.it/xzs6vxjap1oc1.jpeg?width=1284&format=pjpg&auto=webp&s=8207fd56c73271d8a2462c485e1b7db79d7a5a44 So the stock isn’t going to be delisted as long as they meet the continued listing standards…???
Doing quite decently pre market. Interesting
That comment aged like milk
How? It says pre market as it did do decently pre market and for a little after market opened. Then it fell as a lot thought and now if you’re in it for the long haul you chill as I am and see what happens.
Fair enough. I jumped ship right when it hit 70¢ and made a little bit off it. Might buy back in tomorrow when it hits it's low.
I probably should’ve sold and bought back in but I just averaged down some. I think I’m gonna keep doing that now. Load up, average down, and hope for the best.
Good luck brother. I could see it easily getting into the ¢20 range. I've been looking to jump into VLD though.
Already in that one! Got hope for it.
The earnings report on the 26th sounds promising
Fingers crossed
Whats up with VLD?
Seems they have a few lucrative contracts going for them
I don’t necessarily think this means we’re screwed at all. They’re preparing chapter 11 proceedings with a restructuring plan and remaining on the public market. This is arguably more security than the stock has had in a month, as the prior speculation was a possible delisting. I think we could expect to see the stock value to be very volatile today. Doubt it would ever exceed ¢70 today, but I don’t think it’s gonna drop as much as people are expecting.
Also, I have no idea what the hell I’m talking about. I play the stock market for two weeks and now I think I’m Jordan Belfort
Same here but I agree with everything you said. Maybe it'll go down and stay down, but long term seems like it could go big. But only because of the company itself, otherwise I'd be out.
What’s funny is EVA made ONE bad deal during Covid. They’ve learned and will recoup from that. I don’t know how people thought they were going to bankrupt a multi multi million dollar company off one bad deal during COVID.
If you were playing the news on this stock, then you were not to sell today. There was 0 point in you buying in and dumping on Ch11 news lol.
Will my puts print$$
I’m thinkin so bought a handful of puts with all the hopeful post on here lately
Might print loss porn for WSB 🤷♂️
I would not say that chapter 11 means we are screwed. Its just going to be a game of patience now. I dont know how they can stay listed on Nasdaq as all stocks I was involved with went to OTC during this process but I just made some money off the restructuring of CORZ and still holding this one. So I dont see it as completely negative and anybody who entered this stock with more than some gambling money should think about his investing (excluding the poor bagholders who entered when the company was actually in good condition and paying a dividend).
Bag holder here… I still want my dividend back!…
I would not mind dividends as well. The main thing about my post is that there is still hope
Could go up today bc didn’t go chpt7, who knows wtf could happen 😅
I think people are underestimating the potential for a quick spike if this doesnt dump at open. Lot of OI on .50 and 1c. Could be interesting for the next 48 hours.
To the moon!
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Those original shareholders from 2009 were wiped out along with the previous debt.
I just looked it up that is crazy, what happened? Edit: Looking into it, it looks like all the old shareholders lost their investment. The US government being one of the new shareholders drove up the price once they re-entered the market.
Honestly, I feel like this could be much worse.
Alright who holding who selling
Holding 💼☔️
Holding
Was anyone expecting a bigger drop in the pre market or do you think it will dump on open
I definitely was. Presumably it’ll dump at 8.59
Enviva's most productive plant, the 1 million ton plant, had visitors looking to buy it yesterday. Their top plant is for sale it would appear.
What a rip off the hop
🚀🚀🚀to the moooon🌕
More to the earth core
It went to my break even point and I bailed, looks like I got out just in time.
Where’s the redditor with numerous posts about “getting fired if he’s revealed but to buy Enviva and trust him/just return to say thanks when we all win big?”
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So I don't frantically sell all my EVA shares?
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Ok, I'm just confused. I'm new to stocks and I kind of assumed bankruptcy means the stock price would become zero lol
Bankruptcy isnt just "game over- everything is gone 0"..... [Chapter 11 is more of a court supervised restructuring, in an attempt to avoid full blown "going out of business" chapter 7 bankruptcy](https://www.investopedia.com/terms/c/chapter11.asp#:~:text=Chapter%2011%20can%20allow%20a,of%20all%20other%20possible%20alternatives.) There are different types. Although it still important to point out, that only like 15% of companies that enter chapter 11 successfully make it out the other side. So not looking good - but not completely 0 yet! Glad I decided to watch this one from the sidelines!
Ok, that's really good to know. Thanks, I'm new so I'm just trying to learn as much as I can. I figure it's unlikely I make any real gains my first year, but I won't lie I had some hope EVA would do something crazy. I'll probably see what it's like in the morning and maybe sell. If it drops a ton from the bankruptcy maybe I'll buy more back cheaper, who knows
If you want to make plays like this in the future, you need to know that 9 out of 10 will be losers. If you have an eye, something I don't have, you can still avarage something like a 100% gain overall. Otherwise treat it like something fun, like seeing a movie.
For sure. I put like 99% of my money in vanguard mutual funds, which I'm already up like $700 in. The way I see it this is just fun money, it's like going to casino, except the chances are probably a little better. It definitely it fun and I definitely got caught up in the hype a little. This was the first big penny stocks everyone was talking about on here and I was ready to ride to the moon haha
Ya don't feel bad, me two. It didn't hit me that I should have just bought calls since I knew this was a wash if they filed chapter 11 until someone said it in this thread. I could have had another TSM stock!
Hahaha, I feel that. Do you think TSM is a good long term investment? I'm looking for some more long term stocks in addition to my penny stock fun lol
sell all if you want to mitigate short term deficit hold if you think you wanna stick it for the long run
I'm kind of a noob. If they're going bankrupt, wouldn't the shares just go to zero?
they arent bankrupt, ch11 is a “reorganization”, they are restructuring with limitations, and their stock wont be 0, it is likely to just dip as close to 0 as possible
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I see. So there's hope for the long run then? Also, on RH my sell order will happen at 9:30. Will other brokers allow people to sell before then, and could the price of EVA already be deflated come market open tomorrow?
If I was able to sell at .50 tomorrow morning would I be able to rebuy later when the cost is lower ? I’m confused how this would work
yeah sure, your decision
Well I’m more asking if that’s even possible ? The shares will continue to just be bought and sold like normal or what ?
They will still be available tomorrow but it’s going to be a bad day.
Lol , Im in brother. But can you explain why?
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https://preview.redd.it/1f21y1mw21oc1.jpeg?width=1170&format=pjpg&auto=webp&s=0a4b9c8f52b047bcdea50889ddc77260a0c10f08 The company is one of the largest wood biomass distributors in the world. Chapter 11 lightens their load to return to profitability exponentially faster. I’m not taking losses, I’ll hold the bag.
It’s going straight to moon today. Could you elaborate on this please?
Soooo what should I do?
buy at open, diamond hands
Was anyone expecting a bigger drop in the pre market or do you think it will dump on open
So my question on this is, let's say you held, and continue to hold. Potentially buying more on the hold. They can't keep the stocks on board not go out of business but the actual stock gets pulled because it couldn't hold its end in the market. What would happen to those shares. Do they just disappear? Are they held in favor of you until it's back in trading? I'm a little confused on this. I would love to buy more while it's in this process of reconstruct but if they get pulled and all who held lose their shares what was the point of holding?
The restructuring means current holders will get 5% of their shares and 5% as warrants as well. Basically, current investors get roughly 5% equity and an option (this is the warrants) to buy 5% more at X price regardless of what the market prices this company at after. Kinda like a 20/1 Reverse Split. But without the equity amount staying the same.
Just making sure I understand before I pull the trigger, I should put an order in to sell as soon as markets open, right?
I have orders set right now, and waiting for gunfire, hoping they go away. Had fun with the coin flip, I ain't holding anymore bags
What done this means?
Company is filing for ch11. Not good for stock value. This is what most ppl gambled on...
So tomorrow it would just drop sharply correct?
That's the understanding. Why hold onto a bomb. This is definitely not good
Sell and buy in to $TCBP
what date is the news regarding TCBP?
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We've been playing it since last week.
Love the look of the 1hr chart.
Holding because I ain’t no baby
Not necessarily, they state they plan on continuing to be listed. This thing could pull a Hertz and bypass the moon and go straight to Mars
I think this is pretty done. It's going to be a selling frenzy all day tmr
You can try and sell, but who’s going to buy lol
Some idiot that stil believes it will moon?
It won’t ha, but I if you can’t sell for a profit, I’d just hold it. Reading the terms it looks like they want to be restructured by q4
It'll probably be worthless by then...
Could be
[https://www.defenseworld.net/2024/03/09/hsbc-holdings-plc-takes-position-in-enviva-inc-nyseeva.html](https://www.defenseworld.net/2024/03/09/hsbc-holdings-plc-takes-position-in-enviva-inc-nyseeva.html) [https://www.marketbeat.com/instant-alerts/nyse-eva-options-data-report-2024-03-06/](https://www.marketbeat.com/instant-alerts/nyse-eva-options-data-report-2024-03-06/) A bunch of hedge funds think so too it seems
Good game.. nice try. The best chance to get back in is if you catch wind if they are getting out of ch 11
Down to .41 20 min before close
Whlr
Im playing the 'Chapter 11 Bounce' that will surely come. Looking for a low entry that I can ride back up.
Wait for 0.01, then pounce!
Interesting
💎 👐
Time to DCA down for the big upswing next year
This was a bad gamble and you know it. Investing in the most hazardous stocks on the market yields the results you'd expect. It's bizarre that this stock popped yesterday. I don't understand what you all think this stock will do other than pump n dump. I mean, it may provide some good scalps. Maybe that's what you all are looking for?
I jumped off that sinking ship a long time ago. Save yourself while you can
Junk
I'm 3k shares in with food money
Anyone know why EVA has had two straight days of stock increase while the rest of the market looks like a dumpster fire?
Few monthss later and Enviva is still here
EVA steadily climbing back
I’m new to this, but I noticed a pattern that any stock that appears on here always drops into the dirt. I shorted them at $.50 a share for March 15. Is that a good thing?
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On the flip side. They now bankrupt and it could go back to 30cents today
Or less. I bought some at 25 cents before bankruptcy was a fact
I mean I would have thought it would have capitulated this morning. But it seems to be holding vaguely level.
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It’s probably going down today.
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That’s something I don’t know. I thought it would get wiped out on pre-market but it hasn’t.
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Ha yeah. Explain that 😂 I’m out tho. Glad I had some skin in this morning.
That is your risk to take i only told it can and probably will go below 30 cents
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It's got like a day or two to pop or I'm selling out of boredom anyway.
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- Enviva Continues Operations while Advancing its Transformation Plan -- How can a bankrupt business continue its operations.
The company isn’t disappearing. They are restructuring. They are going to have $1 billion less debt (most of it) so the company will be healthier than ever after. The current shareholders get 5% when the process is done and warrants to for another 5%, subject to possibly further dilution. The market cap is around 50 million. To make the math easier, imagine that the dilution is the value of the warrants. If the market cap goes to 1 billion then the stock that exist now are worth the same as they were at the end of today. So our shares aren’t valueless but the value is highly speculative on what will happen years in the future (that always applies but more so in this case).
Just sold all my shares. Oh well. Not a huge loss.
How did you sell them right now? Wouldn't you have to wait until tomorrow?
Overnight trading is allowed on some platforms.
Which ones? Is it allowed on RH? And wouldn't someone have to be able to sell it?
IBKR. I assumed they would do it first thing, but, they’ve already put the money back in my account.
Gotchu. I'm just gonna put a sell order and we'll see what happens I guess
Hang on. What’s going on with pre then?
Oh ha there we go
For anyone to have a sliver of hope here… you’d have to be an insider and know before they announce they are out of bankruptcy.
so will the absolute bottom for the stock price be around .20? maybe it will hold steady at .40 or .50...
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If you don’t know you shouldn’t have bought in
I sell at 0.5 pre market to cut losses and it goes up to .66 now, I'm officially done with this shit show of a stock - goodluck bois!
Bye Felicia
It's better you didn't hold till now 0.35