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bankcruptcy????

lucifer89 said: "hi everyone, i have a quick question. What happens if a company go bankcrupt(companies like United or Delta)? if i buy 1000 shares of delta now and they file for bankcruptcy under chapter 11, does it just disappear or give me back a percentage of their new stock after their restruction? thx in advance......"

HappyHarry said: "You might get some stock in the recapitalization, but basically, you get wiped out."

lucifer89 said: "thx happyharry."

trickynick said: "Remember when I mentioned SkyWest in that other thread about Delta? Well, Delta just sold ASA to SkyWest for $425 million. That's a friggin steal! Delta is obviously getting very desparate. SkyWest, which was vastly undervalued to begin with, has gone higher as result of the deal. Delta is about to be (or maybe already has been) deleted from the S&P 500 because their market capitalization. Lesson from the Delta debacle: if you don't hedge your fuel position, it won't be long before a gallon of jet fuel costs more than a share of the company's stock! :D"

lalasushi said: "theres a chopping block when a company goes under. Creditors get first shot at assets. Then, bondholders. Then, stockholders get what is left over. (usually nothing)"

HappyHarry said: "There's almost nothing worse than holding a stock when a company goes under. Make sure to sell out before that."

Heather said: "I would have to agree. Being a bagholder is no fun at all."

Liviu said: "If you're holding Delta shares and Delta goes under, you get $0.00. Stockholder's equity is negative. They have so much debt that they're under water. It's just that right now they're still holding their breath. But for how long?"