Jul. 24 at 2:22 PM
$LDI Holding above
$1 was critical to this company surviving the current high rate environment, IMO. Now that it has been broken, the likelihood of BK goes up. Bulls now must rely on hopium scenarios like getting a retail squeeze or a near term Fed pivot that drops bond yields dramatically, which are not realistic and not real strategies unfortunately.
It's not game over yet, but with only 11 months of cash runway it's not looking good. I suppose this was always a lotto play with that horrible balance sheet, so I would have been better off just buying a couple hundred LEAPs instead of loading up on shares over the last year. Lesson learned.
