Patriot Coal (PCX) Resumes Trade Under New Ticker Symbol 'PCXCQ'; Plunges Further
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After being de-listed from the NYSE upon its Chapter 11 bankruptcy filing, Patriot Coal (NYSE: PCX) is now trading on the pink sheets under the symbol "PCXCQ" (OTC: PCXCQ).
Shares last traded at $0.27, down another 56 percent versus yesterday's halt price of $0.61.
Despite being bankrupt, shares will continue to trade and speculators will make bets if the equity will have value after all is said and done in bankruptcy court. This is rare but has happened in some situations.
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Shares last traded at $0.27, down another 56 percent versus yesterday's halt price of $0.61.
Despite being bankrupt, shares will continue to trade and speculators will make bets if the equity will have value after all is said and done in bankruptcy court. This is rare but has happened in some situations.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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PCXCQ
Timoteo on Jul 13, 2012 02:20 AMMark as Spam | Reply to this comment
It was a poorly managed company and you could paint it red, white, and blue until the cows come home and it's still a company that killed itself. The EPA doesn't think we should use dirty coal. Big surprise!