Is Nortel Going Broke????
- Thread starter james t kirk
- Start date
Nortel is trading at $0.70 a share today, however the company did a reverse stock split a while ago (2006 ?) of 1 for 10.TheShadow said:
The equivalent share price is $0.07 per share.
Nortel's 52 week high is $17.37 and its 52 week low is $0.47
Suddenly I don't feel so bad about my bank shares.
Its a little off topic but I thought of this story when I read the above postgreat bear said:
One time Bobby Hull was walking & talking with a buddy.
He pointed to his wife and said " You know, she made me a millionaire?"
His buddy said "thats great , behind every great man stands a great woman"
Bobby stopped, looked him in the eye & said " The problem is , I had two million when I met her"
No kidding eh, this has to be the oldest thread anyone revived that I know of.TheShadow said:
Anyway, back in 2000, Nortel almost reached a high of $120 !!! I was on cloud nine, then the tech bubble burst and it has been getting hammered ever since. Nortel stock then consolidated I think 10 for 1 in the last few years and last Wednesday it traded at an all time low of 65 cents, that means it was 6 1/2 cents per share pre consolidation !!!! Holy shit, what a disaster this company has been after being touted as one of the best tech company around. Damn, my little two man operation is worth more than that shit company right now.
Roth was the president back in 2000 who said he saw no problems in the tech market after numerous companies predicted their sales would drop significantly, but Roth stated Nortel saw no such thing and the stock kept up for a couple of weeks until the hammer came smashing down. I think in those two weeks many insiders dumped their stock at higher values and were out when it came crashing down, Roth should have been jailed!!! White colour crime at its best, the prick.
Read this article where they say the stock will go to zero !!!!
http://www.cbc.ca/money/story/2008/11/13/nortelanalyst.html
