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Mark, if you are referring to the record high on the Toronto Stock Exchange, then you need to factor in the 1 for 10 reverse split. Factoring this in, the record high is $1,241.00
So how much has been lost?
Based on today's low of $3.00,
Percent Loss = ($1,241.00-$3.00) / $1,241.00 x 100 = 99.76%
or, it is trading at 0.24% of its record high.
I think it's fair to say that the current management has completely lost confidence and credibility. The current credit/financial markets do not help, and nor will the debt/cash ratio that Nortel will soon reveal. Any company that has debt exceeding cash, and negative cash flow will be feared in this market.
"Nortel now has a market cap of $1.57-billion. And for what it’s worth, it’s now trading at 2.4% 0.24% of its record high of $124.10."
Mark, you still need to edit the record high price... should be $1,241.00
Cash at $2.6B?!
As per Globe & Mail:
"Just last month he said Nortel's growth would be in the high single-digital to low double-digits over the next three years. “We are moving now from transformation stage to growth stage,” he told analysts Aug. 1 on the second quarter conference call.
On Wednesday, Mr. Zafirovski said Nortel has hired an investment banking firm to find a buyer for the company's Metro Ethernet Networks business. The unit, which makes gear for delivering multi-media content over local broadband networks, accounted for 13 per cent of Nortel's $5.38-billion in revenue in the first six months of the year.
“Our strong preference would be for a disposition that involved cash,” he said.
Pavi Binning, the company's chief financial officer, said Nortel's cash balance at the end of this month could be as low as $2.6-billion, or about $400-million less than at the end of June. Nevertheless, he described the cash position as “strong” and said the company remains able to make interest payments on all of its debt."
Dare I present myself as the bearer of bad news to reiterate, it sounds like they won't make it.
Heh, even the stalking multi-ID cheerleaders like creatively named "Concerned Jim" , real concern heh, posting information on defrauded shareholders is starting to see the light...
Amazingly entertaining... others pumpers on Yahoo are trying to regain credibility claiming they shorted the stock and are still seeing money with their relentless buy this stock no matter what positions.
Charts indicate it is a dog. 2.97 Low... wait just hit 2.95... make that 2.92 now ... 12:05PM... and tanking....
Thats like 29 cents presplit so far,,,, lets see what the new low today will be
Something not right about you as many have pointed out. It's sanity related but you wouldn't know, you live in your own world.
I do not post for you,
What "sanity related" when it is you claiming "we" "many" and "us" (so you are not alone pasing judgment as a syndrome expert) sporting this ID contrary to concern.
yep, nuts alright but it isn't me
Makes me wonder what "is under your skin" instead with a stalking ID attacking defrauded shareholders too
Maybe you can try and muster some credibility acknowledging facts today to pump again in the future with another sincere personality.
Now go away, you post jibberish unethically and shamelessly pumping this dog / turd with many IDs from a multiple of it value to bashing it today.
"pretty" or not and calling others "fella" strike me as somewhat fruitcake "related" because you are not educated enough to be artsy if I were to analyze you
As for living in "my own world", well $2,60 low so far genius, welcome to my world.
How about you tell us about the Cisco lawsuit again? I'm sure that would be refreshing knowing your source was just another message poster like you.
Pathetic.
This time 'hopefully' all the worms are exposed and booted out to save jobs for people who actually work.
exnt2, I also hope the staff cuts leave behind those most deserving but it has always been and will continue to be a "beauty pageant" approach as to who goes and who stays..
people playing in the nortel golf tournament are putting exec pics on their golf balls. it does wonders for their strokes.
It could be slow and painful, i.e., NT shrinks into obscurity in Enterprise. Or it could be alarmingly quick, as customers desert it because it looks like it’s a high-risk supplier in its death throes, further fueling a vicious downward spiral. It could be quicker still if a company snatches them up a their current fire sale market cap. Sometimes these things unravel pretty fast.
10. 6 Sigma revealed to be an exec Ponzi scheme
9. Hackney beat up Riedel in parking lot after he was cut off
8. Mike's big severance bonus is only good until end of 2008
7. Hoping for Government bailout from India where they have the most employees
6. 29 cent share price just a liittlle embarrassing
5. Big customer said "I won't buy any more of your sh#t!"
4. Employees leaving company for jobs at Tim Hortons slinging double-doubles
3. Conrad Black taking over as new chairman
2. They only look at the numbers twice a year and they finally noticed no one was buying something.
1. Mike Z has a better offer to run the Lehman bankruptcy