Tuesday, March 1, 2016

"Wall Street's nightmare stock is getting annihilated"

Following up on Friday's "SunEdison Has Doubled In Under 48 Hours (SUNE)":
...Good grief, it reads like a press release from an '80's Vancouver deal.There are higher quality ways to get exposure to the solars should one so desire.
Today's story is from Business Insider via Yahoo Finance:
SunEdison is crashing again after the company said that it would delay its 10-K filing so it can finalize its financial statements.  
The stock was last trading down more than 37% at around $1.44 per share. 
Shares of SunEdison have collapsed 80% since last summer. 
Here's the statement (emphasis ours):  
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR or the transition report or portion thereof, could not be filed within the prescribed time period. 
SunEdison, Inc. (the “Company”) is unable to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2015 (the “Form 10-K”) without unreasonable effort or expense. The Company’s delay in filing the Form 10-K is due principally to:...

The stock has recovered some, now down 18% at $1.62.