Nortel Shares Up?

By Mark Evans | Published: March 25, 2009

Hmmm, what’s going on with Nortel shares today – up 6 cents, or 57%, 16.5 cents in Toronto (NT/TSE) on volume of 11.4 million shares?

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  • scalpcutter

    Ain't that the truth.
    Why that place still has excess managers, many just laterally moved or demoted (not pay wise) to a group where they do nothing boggles my mind.
    The sub JCI3's can do a better job.
    It's Nortels funeral.

  • ERworker

    Expect a Z-mail any day now where Mikey crows about how the market is getting solidly behind his soon to be announced plan. Isn't this the first jump in NT stock since he came on board? He's going to have to brag about it.

  • felixmk

    The company is in bankruptcy and the stock is worthless. The only people who would buy the stock for a good reason are people who shorted and need to cover their position and take the profit. However, in past bankruptcies like Air Canada and K Mart, people continued to buy and sell the stock of the bankrupt company for months after the initial notice out of pure ignorance. Folks, NORTEL STOCK IS WORTHLESS!! Don't waste your money, do something more profitable like buy a lottery ticket.

  • jssj1

    Anyone who made some bizarre gamble and bought at 10 cents has made a very nice profit.

    But it is not likely that will be repeated.

  • grindstone

    scarred, the last thing I need is to put in MORE hours. One, for a company in chap11, my group is covered up with work (day and night work). Two, we're doing it with reduced numbers, including tragically reduced technical support staffs. And three, when your kid's first sentence is, “Daddy, no computer, please”, it's time reassess how much you really believe in work-life balance.

    Or another way: if you've just driven into a ditch, pushing the gas pedal harder may not be as productive as you might think.

  • joremero

    yeah, you are right, I forgot.

  • Should_have_Sold_in_Feb_2004

    Nortel shares will not go to zero and Nortel will not go completely bankrupt; the reason is as follows regarding bankruptcy protection:

    “Nortel's affiliates in Asia, including LG Nortel and in the Caribbean and Latin America, as well as its government solutions business are not included in these proceedings.”

    Nortel is trying to re-organize the high cost centres. Nortel's business in Asia, Caribbean and Latin America and it's LG partnership are part and parcel of the Nortel share price; they are not mutually exclusive.

  • brightsharpsteel

    Most likely scenarios:

    1. Someone is running a pump and dump. Fairly easy with the stock at the level that it is, Or,

    2. Someone is sopping up shares for ownership/control issues rather than market investment purposes.

    While investors are quite right in being down on the stock, there are a number of reasons why someone might make a play for the company. The period between filing Chapter 11 and plan approval is a reasonable good time to move on a company–particularly if the move is hostile.

    From the viewpoint of certain investors, this is a good economy to be shopping for companies in, if you have the money. Nortel, with a new management team and some TLC, could make someone a tidy profit in 2-3 years. Bankruptcy allows some freedom to become free of some debt and make changes that wouldn't be available in normal operation so as to make Nortel actually profitable.

    OTOH, there are companies, both competitors and those in complementary businesses–maybe even some in negotiation for certain business units, that might have motivation to acquire Nortel stock.

    Or it could all be just speculation… you pay your money and take your chances.

  • exnt_x_2

    Nice engrish. Go back to asia, dipshit. Your kind isn't welcome in NA anymore.

  • biddut

    Now that you lost everything, you might as well go back to your family in
    Loserville, EUROPE. Do not forget to say hi to you KKK family members.
    Thanks.

  • exnt_x_2

    Nope. I came out ahead. But we don't hire people that can't communicate clearly in English. Simple business sense.

  • biddut

    Really ? I mean, really? Is that why you are bitter ?????? LOL. You are so
    full of shit.

  • exnt_x_2

    Nope. I came out ahead. But we don't hire people that can't communicate clearly in English. Simple business sense.

  • biddut

    Really ? I mean, really? Is that why you are bitter ?????? LOL. You are so
    full of shit.

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