The company is undergoing a plan of re-organization.
The common stock will undergo a 33:1 reverse split.
The preferred shares and debt will convert to common, and they imply a lower price for the new shares.
By selling the common now and buying the preferred or debentures, you would end up with more new shares.
Just Energy Group (JE) is an alternative energy retailer. Essentially, its business model is to sell electricity and natural gas contracts to customers and then buy the energy to supply those contracts. Just