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Short on company which files bankruptcy
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Created: by Gary Attachments:0

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Short on company which files bankruptcy

  #1 (permalink)
CL Assassin
Near Dallas, Texas, US
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: ZenFire
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Gary's Avatar
 
Posts: 1,070 since Jun 2009
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Short on company which files bankruptcy

Quick question:

Let's say I short Best Buy and they file for bankruptcy, stock tanks, and then trading is halted or they are de-listed or moves to OTC for example? What happens to my share if I am still holding a short position while this takes place?

Anyone have experience with something similar?

Gary

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  #2 (permalink)
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  #3 (permalink)
Identify Evaluate Execute
Mercer Island WA
 
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Posts: 561 since May 2010
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Short on Stock


Hi Gary, I have never been in this position but would like to be . This seems accurate based on my knowledge but as he says usually there is fair warning with time to get out.

What Happens If a Stock That I am Short Goes Bankrupt?

Cheers
DJ

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  #4 (permalink)
Elite Member
Colorado
 
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I think you can contact your broker and buy back the shares for maybe $1 (or less), to close the position..

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