April 14, 2016
Well an unproducive stock and company are called a dog on Wall St. So the coal giant joins its namesake - and wishes it, too, had a Wayback Machine.
Peabody Energy has voluntarily filed for Chapter 11.
The Company has left the Australian operations out of the filings.
Will more bankruptcies follow? They sure can.
U.S. coal giant Peabody Energy (NYSE: BTU<http://seekingalpha.com/symbol/BTU>) has voluntarily filed for Chapter 11<http://www.bloomberg.com/news/articles/2016-04-13/peabody-majority-of-its-u-s-entities-file-for-chapter-11>, confirming the worst fears which I discussed in an earlier analysis
A Stock Which Once Sold For $1300 Is Now Just $2<http://seekingalpha.com/article/3959156-stock-sold-1300-now-just-2>. More like zero? Trading was suspended this Wednesday.
Do you think the coal company Peabody can claim that the oil, gas and nuclear energy companies are using monopolistic practices to get the federal EPA to drive coal companies out of business? Then Peabody could file a lawsuit under the Sherman Antitrust Act!
Posted by: Jack Kemp at April 14, 2016 12:32 PM (AztQM)
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