The Little Lizard
03-31-2006, 12:23 AM
Here is a URL that is a resource and a place for Dana stock holders to network http://danastocks.com/bbs/viewtopic.php?p=285#285. The Below my reply to some comments from that board:
Just a heads up. I viewed some posts from another stock market related board about a week ago. A few folks were discussing waiting until the stock got to 2.00 a share, and it was recently their for a minute and closed one day at 1.98 recently. They indicated that when the stock got to 2.00 they were going to sell off and increase their postition at 1.60 share "off the bounce" (come back in and buy more), smart. Especially since folks were going to get freaked out because of the court date of the 29th, and get nervous and unload some the of the shares they were holding.
Everyones comments are true about some of the potential negative outcomes to share value due to a bankruptcy. However, I have never seen to this point any solid language from Dana or the courts indicating what the value of the stock is, or will be. That will be determined in the final reorganization plan which is due with in 180 day of initial filing, and is not completed at this time. The only thing I have seen potentially related to those of us who hold shares is a statement to the effect that Dana was doing this (Bankruptcy) and has plans to protect the interest of its "stakeholders". Which of course includes us and others, I hope they stay true to their word. One thing I have not heard on any site is why David Tepper a majority private class A shareholder (Insider trading) came in after the announcement of Bankruptcy on March 3, 2006, and then went and bought 2.3 million more shares of DANA on March 6, 2006.
Just a heads up. I viewed some posts from another stock market related board about a week ago. A few folks were discussing waiting until the stock got to 2.00 a share, and it was recently their for a minute and closed one day at 1.98 recently. They indicated that when the stock got to 2.00 they were going to sell off and increase their postition at 1.60 share "off the bounce" (come back in and buy more), smart. Especially since folks were going to get freaked out because of the court date of the 29th, and get nervous and unload some the of the shares they were holding.
Everyones comments are true about some of the potential negative outcomes to share value due to a bankruptcy. However, I have never seen to this point any solid language from Dana or the courts indicating what the value of the stock is, or will be. That will be determined in the final reorganization plan which is due with in 180 day of initial filing, and is not completed at this time. The only thing I have seen potentially related to those of us who hold shares is a statement to the effect that Dana was doing this (Bankruptcy) and has plans to protect the interest of its "stakeholders". Which of course includes us and others, I hope they stay true to their word. One thing I have not heard on any site is why David Tepper a majority private class A shareholder (Insider trading) came in after the announcement of Bankruptcy on March 3, 2006, and then went and bought 2.3 million more shares of DANA on March 6, 2006.