A reader noted that OAS had a huge fall yesterday even though the bankruptcy announcement was earlier.
From the reader:
Oasis, down 35%....not surprising due to their recent financial reorganization, but surprising that today (Monday, October 12, 2020) they got the big hit to their already battered stock price. I cannot find any news about why it crashed today as opposed to crashing the day after they announced they were going to file for bankruptcy.
The screenshot sent to me by the reader.
I posted earlier:
Oasis bankruptcy: a reader had a question regarding Oasis. I will come back to it later. Spoiler alert: I don't have an answer. Maybe a reader will know something. For now, some links that might help:
- Whiting has emerged from bankruptcy; Barron's thoughts;
- post bankruptcy, Whiting Petroleum -- choice for oil bulls;
- Whiting chart;
- Oasis files for bankruptcy;
I have no idea for the price action yesterday. My hunch this has to do with the traders who are knowledgeable about the bankruptcy proceedings with information that is publicly available but not easily found.
It appears trading in OAS halted last week.
Maybe readers have something to add.
Might have something to do with not being listed on the Nasdaq anymore and changing symbols? It is now on OTC as OASPQ. Up 25% today.
ReplyDeleteThank you. Much appreciated.
ReplyDelete