Tuesday, July 30, 2013

Suntech Power ($STP) Bonds Trade at New Low of 23.5

Just a small print, but still. I have never heard of a $268 million market capitalization for a company with defaulted bonds trading this low.

Especially when the company itself has announced that they are trying to equitize the bonds, i.e. wipe out the current shareholders.

What are people thinking? Well, you can see that tweeting daytraders are perhaps the marginal buyer.

1 comment:

John said...

Now that Suntech responded, does anyone have estimated time frame on when the judge will make a decision in the Trondheim case?