Briggs & Stratton BGG Stock Wassupwitit
I invest in stocks for fun. I have no clue what I'm doing. I just buy companies that make products I like or support a thesis I have and never sell. I've been buying up Briss & Stratton because they make dope batteries for Snapper and I have a bunch of their shit and I want more. And they had a nice div yield. So I bought some at 4.50 and forgot about it for a while. Got a dividend or whatever. Then I noticed they started falling, but the batteries are still dope, so I kept buying every 10 cents. My order at $1.25 just got filled and I'm putting one in at $1.15. I'm just gonna keep doing it and see what happens. But this shit was at like $30 not that long ago. And they just struck some deal to be some exclusive supplier for some big shit. Like whatever I obviously have not researched them but does anyone know what's going on? Clearly it's something obvious or the price wouldn't be falling so precipitously, right? Or some big player is fucking with it? Doubtful, right? What's going on not just here but in general when a company that hasn't changed its product or public appearance at all and the stock price plummets?
They’re currently on the brink of bankruptcy (hired an RX advisor, missed interest payments, etc.). Put simply, the little equity value that’s left is essentially acting as a call option on the enterprise value of the company with a strike price equal to their debt, meaning that the stock price is essentially paying a premium for the time value of this “call option”.
Oh very interesting. I think I'll continue with the bet. What's an RX advisor? Could you please game theory the different ways this plays out?
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