Greedygecko,there is no way Macquarie would be looking at BNB....

Greedygecko,

there is no way Macquarie would be looking at BNB. Also, its ridiculous to suggest MQG are shorting BNB. One of the reasons why MQG has not suffered the same fate as other global investment banks is becasue they do not get involved in proprietry trading.
MQG have announced they are getting involved in bond insurance in the US (as Buffet has also just picked up a licence), so they are not inetested in BNB.

BNB are in trouble in that I expect them to trade down to approx $3 or $4 over the next month or so. I doubt whether you have seen a bottom and think that, given the wild volatility, if there was a chance to get out on any strength, you may want to look at doing this.

A the moment, you are not investing, you are punting. Basically punting against the shorters and this is dangerous now that they have smelt blood.

The stock has to trade below $7.50 for four months. While this is not an automatic default, the fact is the banks will probably want to protect themselves and want some additional security or debt paid down. I'm sure many remember AFG, ABC Learning, MFS. No-one thought AFG could sink so low......

ANway, BNB are stuck. They are not well capitalised. They have just had to pump $300m into BBP. Money they really could not afford to contribute.

If they are forced to reduce debt further, then you will see asset sales. BNB really may not have sufficient capital to actually grow their business and make acquisitions. So, this is not good.

In addition, their reputation is now shot. They are going to have problems raising funds for any investment in the near future.

So basically, this is not a stock you would want to pin your hopes on. I think you are best off getting out and if this all settles, then simply buy back in knowing the question marks have been dealt with.