Trump to buy back Trump Entertainment
A while back we made a small risky investment buying Trump Entertainment Resorts stock (TRMPq) at just .24 cents per share. Shortly after, the company filed for Chapter 11 bankruptcy. The stock was delisted from NASDAQ and is now listed on the pink sheets. After being there or a while and sitting around 12 or 13 cents per share, there is news of Trump wanting to buy back the company and take it private.
On the forums people seem to think the stock will become worthless yet the price today jumped up to the .24-.28 cents range, apparently on the news. So I am a bit confused as to what is happening. The news report seemed to say common stock holders would not be paid anything but maybe I did not understand it correctly. Or maybe Trump will buy all shareholders stock?
I’m wondering if I should sell our shares now and take a small profit or wait and see what happens. Any suggestions?
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