This is the equity equivalent for longs.
From TheStreet:
Chesapeake Energy Corp. (CHK) - Get Report shares plunged lower Tuesday, before being halted by officials on the New York Stock Exchange, amid reports that the shale oil and gas producer is preparing to file for Chapter 11 bankruptcy protection....MORERecently:
"Chesapeake Prepares To File Bankruptcy After Stock Surges 300%" (CHK)
ICYMI: "Chesapeake Energy's stock rockets, triggers 5 trading halts for volatility" (CHK)
ICYMI: "Chesapeake Energy's stock plummets as price target slashed to zero amid 'strong sell' rating at CFRA " (CHK)
Natural Gas: Chesapeake Says It May Not Be a "Going Concern" (CHK)
And dozens more over the years, use the 'search blog' box if interested.
Over the years:
That 1 for 200 reverse split is how you get a $7000 stock.