could get more ugly

$2 is indeed possible. Liquidation is also possible. Even the supposed "professional" advisers can't value Centro right now. Reading their online articles and listening to the commentary on CNBC, it seems a coin toss - liquidation or survival.

I was in at $1.16 and got out at $1.20. It is indeed a very high risk proposition right now.

If it goes sub $1 on no news, this could provide some value.

I note CER lost out big time today, into the low 80'cs. Interesting if its big loss will spread into CNP tomorrow.

But Centro right now isn't investing, it's outright gambling.