Most taxi's are owner driver. So the licence will be devalued to zero and there will be an influx of cabs sold privately for private use.
There could be a private buy out for pennies after bankruptcy declaration, but the shareholders get none of that and shares are worthless. It is the creditors that get paid, albeit cents in the dollar.
It is absolutely crazy they are still paying a dividend. Absolutely crazy economics and management in the times they are in. Digging their own grave. They should be trying to preserve cash.
A2B Price at posting:
$1.40 Sentiment: Sell Disclosure: Held
