Bankrupt Penny Stock at Risk of Bear Notes

The company filed for Chapter 11 bankruptcy this morning

Deputy Editor
May 14, 2020 at 10:15 AM
facebook X logo linkedin


The shares of Intelsat SA (NYSE:I) are down 18% to trade at 79 cents, after the satellite services provider filed for bankruptcy protection, a move designed to allow the company to participate in an upcoming government airwaves auction.

It's been a rough few months on the charts for Intelsat stock, to say the least. A steep bear gap in November sent shares below $25, and that was just the beginning. Now down 96.8% in the last 12 months, yesterday the stock hit a record low of 0.77, with consistent pressure from its 20-day moving average. 

Analysts are all over the place when it comes to Intelsat stock. Of the 11 in coverage, six brokerages sport a lukewarm "hold," two say "buy" or better, and the remaining all recommend a "sell."

Plus, the 12-month consensus target price of $8.99 sits up at territory not seen since that aforementioned November bear gap. This could signal some much needed price-target cuts in the near future, adding even more pressure to the beleaguered equity.

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI