'Bounces in bankrupt companies have gone from bizarre to routine,' said Steve Sosnick, chief strategist at Interactive Brokers.
The odd trend of investors piling into the shares of bankrupt companies continued this week when WeWork jumped 92% on Wednesday, the day it started trading after seeking protection from its lenders.
“Bounces in bankrupt companies have gone from bizarre to routine,” said Steve Sosnick, chief strategist at Interactive Brokers. No layup “At a simple level, one can assert that it’s ‘sell the rumour, buy the news,’ as it was well-telegraphed that bankruptcy was coming,” he said.
Investors Bankrupt Wework Shares Surge Market Value Debt Restructuring
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