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Strategies & Market Trends : Moufassa's Lair
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To: Mark Konrad who wrote (2734)12/13/2001 5:06:33 PM
From: moufassa7  Read Replies (1) of 13660
 
The problem with playing potential bankruptcy plays is that you cannot exit when the music stops. Bankruptcy is announced after trading hours, the stock is halted, usually delisted to the BB to trade for pennies. XOXO is the most recent example. It closed over a dollar several weeks ago and has been halted since then. Next week it goes to the BB where sellers can take a tax loss before year end for a few pennies per share. A nearly 100% loss. Trade them if you wish, but understand the risk you take. Good luck.
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