It has been announced that on Monday delta will finally emerge from backruptcy, with the existing pink sheet shares (DALRQ.PK) written off.
So my question is, why are they still worth anything at all? I totally don't get it; they are trading 0.038 bid 0.039 ask on my screen. Now, I can understand a non-zero ask, but the bid? Why isn't the bid precisely zero? It implies someone will pay real money for shares that are about to become worthless!?!
Is this on the slight off chance some Miracle will occur over the weekend?
Unfortunately the shares cannot be shorted, otherwise I would be tempted!
So my question is, why are they still worth anything at all? I totally don't get it; they are trading 0.038 bid 0.039 ask on my screen. Now, I can understand a non-zero ask, but the bid? Why isn't the bid precisely zero? It implies someone will pay real money for shares that are about to become worthless!?!
Is this on the slight off chance some Miracle will occur over the weekend?
Unfortunately the shares cannot be shorted, otherwise I would be tempted!
