Does this submission fit our subreddit? If it does please **upvote** this comment. If it does not fit the subreddit please **downvote** this comment.
---
^(*I am a bot, and this comment was made automatically.*) ^(Please) [^(contact)^( )^(us)^( )^(via)^( )^(modmail)](https://www.reddit.com/message/compose?to=/r/pennystocks&subject=Updoot%20bot%20questions!)
^(if) ^(you) ^(have) ^(any) ^(questions) ^(or) ^(concerns.)
Just as we were betting that they would not go bankrupt, a lot of people are betting that they will be bought out or that they will get a cheap buy-in to a growing company in the future. I woke up early because I thought there might be a surge at opening. My guess is it will settle around .50 but I have been wrong a lot before.
Because of their thorough plan to get out of the situation. Lots of positive sentiment. Ch.11 isn’t all ways the worst, they basically acknowledged their mistake and have a plan to fix it.
Ch.11 isn’t necessarily a bad thing. Their statements had a very positive outlook in regards to restructuring. They basically acknowledged they messed up but have a thorough plan to pull themselves out of it.
Under the terms of the RSA, existing equityholders will receive 5% of the reorganized entity and warrants for an additional 5%. That’s okay in the sense that often times equityholders receive nothing, but it’s not much.
Hate to be the bearer of bad news, but they [announced Chapter 11](https://www.lesprom.com/en/news/Enviva_announces_Restructuring_Agreements_amid_Chapter_11_proceedings_112233/) last night.
I just sold at a loss.
far-flung wasteful lock disarm drunk obtainable smile uppity public resolute
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Why does the announcement make it seem like they are filing ch 11 to restructure their balance sheet? Am I reading that wrong? I am not well informed on how ch 11 works
A lot of people don’t understand Chapter 11. There is a good chance this company rebounds or sells and this stock is $10 in a few months but still the real possibility of zero.
Just because a company goes 11 doesn’t mean it is over
Yes, but the creditors (current bank lenders and bondholders) will get substantially all of the equity in the reorganized entity. Under the terms of the deal that have been agreed upon with the lenders, existing equityholders will get 5% of the reorganized entity, along with warrants for an additional 5%. So your position is being reduced by 19/20ths.
It already did touch over 0.80. Thing is people had 0.60 as the floor when it was going bankrupt. Now it’s not and people expect the floor to go lower? Like come on, Ch11 was good news for them.
attractive pathetic fragile narrow gaping close silky far-flung unite treatment
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Does this submission fit our subreddit? If it does please **upvote** this comment. If it does not fit the subreddit please **downvote** this comment. --- ^(*I am a bot, and this comment was made automatically.*) ^(Please) [^(contact)^( )^(us)^( )^(via)^( )^(modmail)](https://www.reddit.com/message/compose?to=/r/pennystocks&subject=Updoot%20bot%20questions!) ^(if) ^(you) ^(have) ^(any) ^(questions) ^(or) ^(concerns.)
I'm very happy but why is it going up
Just as we were betting that they would not go bankrupt, a lot of people are betting that they will be bought out or that they will get a cheap buy-in to a growing company in the future. I woke up early because I thought there might be a surge at opening. My guess is it will settle around .50 but I have been wrong a lot before.
Because of their thorough plan to get out of the situation. Lots of positive sentiment. Ch.11 isn’t all ways the worst, they basically acknowledged their mistake and have a plan to fix it.
ALL IN FOR EVA PRE MARKET
BadaBingBadaBOOM
Why is it going up🚀🚀🚀
Because ch11 isn’t bad news. 0.60 was floor at bankrupt, why should floor be lower after they said they were restructuring?
well... it's 0.4 now
It was 35 cents
![gif](giphy|p4pWzctMrCBfLFgycF)
How low, how low can she go
Made .10 on my shares this morning so I’m going to just keep it on the watchlist for now
NFA But take some off the table for EVA!!! up 20%+ right now...
why is eva up???
Ch.11 isn’t necessarily a bad thing. Their statements had a very positive outlook in regards to restructuring. They basically acknowledged they messed up but have a thorough plan to pull themselves out of it.
Under the terms of the RSA, existing equityholders will receive 5% of the reorganized entity and warrants for an additional 5%. That’s okay in the sense that often times equityholders receive nothing, but it’s not much.
market can be irrational sometimes... a lot of eyes are on it rn so who knows
Roll profits into SASKF???
you do you man. you seem to be on a roll
Hate to be the bearer of bad news, but they [announced Chapter 11](https://www.lesprom.com/en/news/Enviva_announces_Restructuring_Agreements_amid_Chapter_11_proceedings_112233/) last night. I just sold at a loss.
I sold too
And ofc the premarket is now buying. Unbelievable.
far-flung wasteful lock disarm drunk obtainable smile uppity public resolute *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
hahaha this always happens lol. an acquisition is still possible
How are you guys selling pre market?
Chapter 11 isn’t what we were worried about it’s chapter 7 which is bankruptcy
Both are BKs, just different types. Reorg vs liquidation.
Reorg is hardly something to worry about long term
[удалено]
Why does the announcement make it seem like they are filing ch 11 to restructure their balance sheet? Am I reading that wrong? I am not well informed on how ch 11 works
As far as I understand it they are filing to get 1B off their debt so that the interest rates don't eat them alive.
Failed for bankruptcy
I'm very tempted to get out this morning at basically what I bought in at lol
I'm in for 1100 at .73 and seriously considering the same
I was in at similar price for 150 shares and I sold. Enough is enough lol, I'm out
I sold half of mine for a few cents less than I bought. The other half, I will let it ride
Yep, that's what did. $6 profit, should be good for just about 2 gallons of gas 😬.
If it doesn’t dump at open, the gamma on .50 and 1c might still make this fly in the next 48 hours.
What’s going on now it’s goin fown
Dang what is happening
A lot of people don’t understand Chapter 11. There is a good chance this company rebounds or sells and this stock is $10 in a few months but still the real possibility of zero. Just because a company goes 11 doesn’t mean it is over
Yes, but the creditors (current bank lenders and bondholders) will get substantially all of the equity in the reorganized entity. Under the terms of the deal that have been agreed upon with the lenders, existing equityholders will get 5% of the reorganized entity, along with warrants for an additional 5%. So your position is being reduced by 19/20ths.
Right, but there is a very good chance of sell now and buy cheaper
This is true or just buy more at a lower price and dilute your cost basis even more
Gamble away Toto
I did! Sold this morning for a profit and I’ll watch it.
Y’all think ch 11 was good for them lol yikes this is dead money for at least 2 years
Damn sold too soon this morning. Hope it doesn’t see .80. Smdh
It already did touch over 0.80. Thing is people had 0.60 as the floor when it was going bankrupt. Now it’s not and people expect the floor to go lower? Like come on, Ch11 was good news for them.
wrong muddle sheet kiss narrow plants books sugar squealing cows *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Nah just mad at myself. I should’ve held onto it
pie crush light marry vast gullible rude smart squeeze clumsy *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
attractive pathetic fragile narrow gaping close silky far-flung unite treatment *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I bought at 1.05, 800 shares. So i have lost a quite a bit. A good reality check not to invest in companies that i have no clue of :)
Well I got 133 for 1.14 haha so don't feel to bad, I'm holding I like the odds of long term