The amount of commodity related debt whose share prices are trading under $5 is now an astounding $526 billion.
Equity markets are all but closed to these companies. How will they restructure their enormous debt loads? Thru bankruptcy court.
Here are some choice names.
PBR: $125 billion
VALE: $31 billion
FCX: $21 billion
MT: $20 billion
SDRL: $12 billion
CHK: $12 billion
SID: $11 billion
LINE: $10 billion
BTU: $6 billion
SD: $4 billion
UPL: $3.4 billion
Right behind it, stocks trading between $5-6, is another $23 billion in debt. All of those fuckers will go down the drain too.
CNX, WLL, AMID, CELP, ATW.
Thank God our Federal Reserve is aware of the credit issues in these companies who employ thousands of Americans.
Some of today’s more alarming drops in the oil patch include: OAS (-15%), ATW (-17%), WLL (-14.5%), REI (-11%), BBG (-10%), RDC (-8%), MWE (-8%), RIG (-7%), PBR (-8%), APC (-7.5%), CNQ (-6.6%), APA (-6%), DVN (-6%), SM (-15%), CWEI (-12%), SN (-11%), ECA (-10%), MEP (-10%), SEMG (-13%), ETE (-10%), NSH (-10%), TRGP (-9%), WES (-9%), WMB (-8%).
If you enjoy the content at iBankCoin, please follow us on Twitter
Simply unbelievable.
I do not believe the Fed is concerned at these stock levels …..
Fed won’t act until SPX 550
666
If you thought the Devil’s bottom was bad, wait ’till we see Yellen’s bottom…
Soc Gen’s target….
I like it sounds like a luxury car SPX 550
577ish
Little disingenous to bears about debt
just a little
lot
YOU STUPID
TOOLS
watched the debt accumulation your
rising stocks laughing like sluts
you little
shits
haha
fuck off
MT. For a 1 million dollar position you have 33+ employees to call your own, and they are sitting in your living room waiting to be fed.
Or …you buy the close and sell the open , like the other day.
PBR spends more on bribes than on debt. And it’s not even chinese.
So, who’s taller – Yellen or Dilma?
Jesus said get out, if u don’t love me…. get out.