Monday, April 4, 2016

Today In SunEdison: Down 50% But Still Trading (SUNE)

It appears we have entered the realm of one of Zeno's Paradoxes, namely the Paradox of the Tortoise and Achilles, that no matter how many days SUNE drops 50% it never reaches zero.

21 cents, down 22 cents last.

From LearnBonds who seems to have developed a sick fascination with watching a $10 billion market cap shrink to $67 million:

SunEdison Inc (SUNE) Approaches Evisceration as Bankruptcy Looms
SunEdison Inc (NYSE:SUNE) crashed another 50 percent Monday to 20 cents. The solar firm has seen its shares approach evisceration as its bankruptcy remains imminent. Despite some of the good news, no matter how small, investors are fleeing on the premise of too little too late.
SunEdison Inc – a Case of 
Debt, Bankruptcy, 
Every week, investors and pundits ask the question: can things get any worse for SunEdison? 
Apparently it can. Whether it’s legal trouble or financial woes, the solar firm can’t catch a break. 
The first bad news came Sunday when one of its yieldcos filed a lawsuit. 
TerraForm Global Inc (NASDAQ:GLBLaccused its parent company of diverting funds to “misappropriate” TerraForm’s assets. The yieldco is seeking $231 million in cash, which the yieldco says SunEdison used to “prop up its flagging liquidity position.” Some of the names listed include  SunEdison Chief Executive Ahmad Chatila, General Counsel Martin Truong and Brian Wuebbels. These men, the lawsuit says, violated their fiduciary duty....MORE
One of SunEdison's YieldCo's Says The Parent May File Bankruptcy (SUNE; GLBL)
SunEdison Is Being Investigated By The SEC, Stock Is Deer Nuts (SUNE)
78 cents, down 38% pre-market.
And In Today's SunEdison News... (SUNE)
SunEdison Drops After Suspending Preferred Dividend, Downgrades
$1.61 down 10.34%.

That gets us back to March 3.
I guess my fascination has also been a bit sick.
Since $11.00