Celadon on the ropes...

I knew you'd be the first to respond.
Blind loyalty is not a good thing.
They've about held off the creditors as long
As they can.

They cooked the books and soon they're going
To have to open them up.
You'll be the last to know when it happens.

 

I'll chip in.....just in case

 

Here is another important fact from a different article regarding Celadon; "Celadon has not reported its earnings publicly since 2017, around the time the accounting discrepancies were discovered but at the last report the company had $380.5 million in total debt and only $136.7 in cash assets."

If the big banks say "Time's up, we want our money", Celadon will be liquidated. That is the only outcome. If they have discovered close to $250 million in overstated profits, and they still are not profitable, the smart money says the banks won't be giving them a third chance.

I have no skin in the game, so I will wait to see if we doomsayers are correct or @laaylor is.

 

I haven't been following them much since i sold back in late september/early october. Just glanced at the price a bit every week or so and saw it hovering in the 3.50 range with no big jumps either direction.

When was they delisted?

 

Celadon's creditors are freaking out and demanding monthly massive fee (loan servicing) payments and a stake in the company (collateral) before lending more.I would say Celadon has about 6 months to get back in the black or it is going to be curtains....

 

Where’s that dude from last year who bragged non-stop about how much money he’s making at Celedon lease purchase “yup yup”..?

 

I will be shocked if they make it 90 days ....when your only option is loan sharks and there is blood in the water ...

 

Yea I remember him.
Maybe he figured they suckered him once
With the lease purchase,that he wasn't going to
Give them a second chance.

If I we're in a lease purchase at celadon I
Would be getting proof of all payments made
And calling everyone I can to make sure it's
All legit.

I remember when arrow went down there were
Drivers and their wives in tears.
They had been paying on trucks for years and
Thought they had owned them or were close
To owning them.

Not. It was all a lie and fake paperwork.
The company kept their money and didn't
Make any payments on the trucks.
They even stole their child support payments.
They had nothing to show for it.

How naive must you be to think this
Company that has admitted to cooking
The books and yet to reveal the full nature
Of their corruptness, wouldn't stick it to
A bunch of drivers aslo.

On their list of problems,the drivers are at
The bottom. They're scattered everywhere and
They got no money or lawyers for them to worry about.
When the doors close the big shots will disappear
And never have to face any of them anyway.
Everyone of the higher ups in the office know this.

There's never going to be a fleetwide message telling
The drivers that the company is going down the tubes.
Everything is great,everything is fine.
Till you wake up one morning and call into the office
And the phone has been disconnected.

 

So I guess it wasn't the fault of all those lease operators after all.

 

On trades in these situations - lock in the profit on the bounce. Holding isn't such a great idea if the share price is under $5, especially once the volatility drops. You can get back in once the stock starts to move. Buy and hold works for some trades, just not with companies in celadons position .