General Growth Properties stock was traded once again on the New York Stock Exchange yesterday, less than a year after being delisted when the company sought protection of the bankruptcy courts.In first day trading the stock rose 2.3% and closed at $14.01 a 1,234% increase over their 52 week low.
That’s a nice way to reenter the big board.
4 comments:
Soooo...how much did you buy or sell?
It's a complex question. Think about it.
So, how much of GGP stock did you buy or sell?
It's a complex question. Think about it.
Anyone?
I know several who took a chance at below $1. Some took their money at $10 and others stayed in. I was too clueless. Turns out, even when they filed, they had solid cash flow and the whole backruptcy was simply to force the restrucuting of debt that was maturing and couldn't be refinanced because the markets were so bad. That's exactly what happened. Now they're coming out of bankruptcy with that strong cash flow and extended debt maturities. Maybe I should have taken a harder look back then!
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