CRC has doubled off its low since releasing Q3 results.
Trading in the stock since the Q3 results appears to be a dead cat bounce as bond trading has not been nearly as robust.
Bonds are trading at junk status, including a series coming due in two months.
Bond trades do not believe they will be made whole, leading me to believe that there is a substantial risk of a restructuring event occurring in the near term.
This article was selected to be shared with PRO+ Short Ideas subscribers - find out more here.
"Smart" and big money tends to move the bond market while retail and "dumb" money have a