I suspect realistically .. this one could be one they hold to the ground. No cover or even a dead cat bounce.
Now that might not be the case and perhaps there will be a recovery of a few pips, but even if this fell a further 50% its equity would still be valued at over $50m . With the debt and bonds + basically no capacity to raise at that price, its a mugs game chasing the bottom imo.
Have done it before myself ... sometimes you have to do it and fight till the death before the aha moment. Just feel bad for those that sink a lot in on the way down.
