Why the sudden spike in bankrupt Washington Mutual Bonds?
The 2014 bonds were trading at $6 or $7 dollars 4 months ago and stayed in a $6 to $20 range for 3 months and then started to climb higher. Today the issue I sold for $40 a few days ago has now climbed to $50. This seems rather high given that the valuable Bank side of WaMu was taken over by the FDIC and sold to JP Morgan.
| Print article | This entry was posted by admin on March 13, 2011 at 11:04 am, and is filed under Investment. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site. |
about 1 year ago
All bankrupt companies have this spike in them I remember United when they went bankrupt got so low they quintupled after that. A good trader can make lots of money on these if they time it right.
Another good way is when they come out of bankruptcy.