Are any of you still watching Interstate Bakeries Corp (IBCIQ)? It was down to $0.01 a few weeks back, now it is back at $0.065! That is a HUGE gain. They are really playing over there. It is shaky ground. But can it be played right?
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2 responses so far ↓
1 messels // Dec 5, 2007 at 9:02 am
i’m OUT. stock is too iffy. it’s not even clear that the existing float will survive the restructure. think worldcom–those shares went to ZERO and the company just “re-released” new shares for mci.
total bs for existing shareholders but that’s the name of the game. common stock shareholders are ‘last in line’ so even if ibciq makes it through, there’s no saying that the actual shares (and company name) will be the same.
2 citizenworld // Dec 5, 2007 at 10:25 am
I say not worth the risk. I’d be happier, and more comfortable, driving to Tahoe and putting my money on #17 at the roulette table!
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