I hate to burst anyone's bubble, but I'd like to offer a few comments. I am a former global telecommunications bond analyst, which is why I am now a bankruptcy professional. :=D (Hi, Mqurice, remember me from QCOM oh so long ago? I quit posting and sold for the last time around $65 in late '97 - '98 when I went to the street. Perhaps you can vouch for my credibility.) I no longer work with registered securities, only privately held companies. Therefore, I can speak in this forum. I will tell you that I took a flyer on GX back around $3.50, and recently sold at $0.08. Yes, I do dumb things too, did not do the due diligence I should have - I spend my time on my professional responsibilities and sometimes give my personal investments short shrift.
After that intro, let me tell you that given GLBXQ's filing of Chapter 11, and the degree by which its debt outweighs the current valuation of its assets, THERE IS NO WAY CURRENT SHAREHOLDERS WILL GET A PLUGGED NICKEL OUT OF ANY SALE OF ITS ASSETS FROM CHAPTER 11. The trading that is currently taking place of this stock smacks of manipulation by institutional investor(s) and/or sell-side firm(s) who are running up the price at times so that they can dump whatever they can of their holdings. The more retail speculators they can suck in, the happier they will be. Understand, they will be stimulating demand only until enough bandwagon riders jump on, then dump what they can into the demand. They will repeat as possible. Playing with this stock on the long side is a sure recipe to get burned. They are out to take your money and no prisoners. Mark my words. |
