No Comeback Story for Chesapeake Energy Stock Chesapeake Energy will emerge from bankruptcy by the end of the 2021 first quarter. Most of the $7 billion debt extinguished during the restructuring process will be swapped for shares. Debtholders, not stockholders, will drive the company’s future moving forward.
Shares of Chesapeake Energy (OTC:CHKA. Q) are skyrocketing today , up by more than 37% as of 10:30 a.m. EDT, following news that the oil and gas specialist adopted a poison pill to shield its “net operating loss carryforwards” (NOLs) from a potential acquirer.
As of market close on July 30, 2020, Chesapeake Energy (CHK) has been delisted from the New York Stock Exchange. As a result, Cash App Investing will no longer support trading of the company’s stock .
Chesapeake Energy (OTCMKTS: CHKAQ ) stock is now 100% completely worthless and all the existing shares will be canceled. If you own the existing common stock shares, your investment will be zero.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. 3 дня назад
While there’s a remote chance the stock will retain some value following a bankruptcy filing, the upside probably won’t amount to much, given the amount of dilution and significant supply overhang in the oil and gas market. That’s why investors should steer clear of this energy stock .
Bankrupt U.S. shale pioneer Chesapeake Energy on Monday laid out its long-term plans and detailed dramatically reduced drilling through the end of the year, with half the rigs as it had to start 2020.
Referenced Symbols. Shares of Chesapeake Energy Corp. Chesapeake Energy’s stock US: CHK has been spiraling lower over the past couple of years as the company struggled under a heavy debt load, made worse by falling natural-gas and crude prices on supply concerns, and more recently as the COVID-19 pandemic sapped demand.